Why SoundHound AI Stock Soared 17.3% Today
Shares of SoundHound AI (NASDAQ: SOUN) soared on Monday, finishing the day up 17.3%. The spike came as the S 500 and Nasdaq Composite both lost 0.3%.
The voice-focused artificial intelligence (AI) company's stock is continuing to climb after releasing better-than-expected earnings on Thursday and announcing major new capabilities and partnerships on Friday.
SoundHounds' second quarter was a major success for the company and its "strongest ever quarter," according to CEO Keyvan Mohajer. The company delivered an adjusted loss per share of $0.03, better than Wall Street's expected loss of $0.05 per share. Sales jumped 217% year over year, hitting $43 million and handily beating the expected $33 million.
Source Fool.com
