Is SoundHound AI Stock a Buy Now?
SoundHound AI (NASDAQ: SOUN), a developer of AI-powered audio recognition services, posted its second-quarter earnings report on Aug. 7. Its revenue surged 217% year over year to $42.7 million and exceeded analysts' expectations by $9.8 million. On the bottom line, it narrowed its adjusted net loss from $14.9 million to $11.9 million, or $0.03 per share, which also cleared the consensus forecast by two cents.
For the full year, the company expects its revenue to rise 89%-110%, compared to its previous guidance for 85%-109% growth and analysts' expectations for 97% growth. Those impressive numbers sparked a post-earnings rally, but the stock remains more than 40% below its all-time high from last December.
Let's see if this volatile AI growth stock is still worth buying.
Source Fool.com
