Why SoundHound AI Stock Is Down Today
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Shares of SoundHound AI (NASDAQ: SOUN) traded much lower on Wednesday, following a robust third-quarter earnings report. The artificial intelligence (AI) expert beat the Street's expectations across the board, but the stock was still down by 19.1% at noon ET. The earnings surprise wasn't big enough to support an artificial price increase based on social media posts and classic meme-stock price-pumping action.Your average Wall Street analyst firm had expected SoundHound AI to report a net loss of $0.07 per share on top-line revenues near $23 million.The company easily cleared both hurdles. Sales jumped 89% year over year to $25.1 million, while adjusted net losses shrank from $0.09 to $0.04 per share.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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