Copyright Investor's Business Daily
SoundHound AI (SOUN), a leader in conversational voice artificial intelligence for businesses, late Thursday beat Wall Street's targets for the third quarter and increased its full-year sales guidance. But SoundHound stock fell in extended trading. The Santa Clara, Calif.-based company lost an adjusted 3 cents a share on sales of $42 million in the September quarter. Analysts polled by FactSet had expected SoundHound to lose 9 cents a share on sales of $40.5 million. In the year-earlier period, it lost 6 cents a share on sales of $25.2 million. SoundHound also raised its full-year revenue outlook to a range of $165 million to $180 million. The midpoint of $172.5 million, topped the consensus estimate of $166 million. SoundHound's technology is used by companies to interact with customers in call centers and restaurant drive-thrus. In after-hours trading on the stock market today, SoundHound stock slid more than 3% to 13.78. During the regular session Thursday, SoundHound stock fell 9.5% to close at 14.23. Earnings report details to follow. SoundHound stock is on the IBD Tech Leaders list. Follow Patrick Seitz on X at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks. YOU MAY ALSO LIKE: SharkNinja Cleans Up With Q3 Earnings Beat AppLovin Stock Rises On Better-Than-Expected Earnings, Guidance Discover Profitable Trades Each Day With MarketDiem. See How. Find Winning Stocks With MarketSurge Pattern Recognition & Custom Screens
