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Why Veritone Stock Is Surging Today

TheMotleyFool

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Why Veritone Stock Is Surging TodayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/3967c11c-b755-4d39-87d0-acc853384c80.png

Shares of Veritone (NASDAQ: VERI) jumped on Thursday after the provider of artificial intelligence (AI) solutions updated its guidance for the second quarter. Veritone boosted its revenue outlook while reducing its forecast for an adjusted net loss. The stock was up 19.1% at 11:30 a.m. EDT today.

Veritone now expects to generate revenue between $13.1 million and $13.3 million during the second quarter, up from a previous guidance range of $11.8 million to $12.2 million. Its advertising and content licensing businesses produced more revenue than expected, and the company achieved record bookings for its aiWARE platform from government, legal, and compliance customers.

Image source: Getty Images.

Source Fool.com

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