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Benzinga
Benzinga
Business
Henry Khederian

As Markets Question AI Profitability, SoundHound AI's 217% Revenue Surge Aims To Rewrite The Growth Narrative

AI SOUN SoundHound SoundHound AI
Porto,,Portugal,-,October,25th,,2024,Soundhound,Ai,Logo,Displayed

SoundHound AI Inc (NASDAQ:SOUN) shares are trading higher Monday afternoon after a strong second-quarter performance and a bullish analyst rating. Here’s what investors need to know.

What To Know: The company reported record-breaking quarterly revenue of $42.7 million, a 217% year-over-year increase that beat the consensus estimate of $32.88 million. Adjusted losses were three cents per share, outperforming the Street’s expectation of a nine-cent loss.

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