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Why SoundHound AI Stock Soared Friday

TheMotleyFool

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Why SoundHound AI Stock Soared Friday: https://g.foolcdn.com/editorial/images/776882/ai-chat-on-laptop.jpg

Investors wanted to hear more from SoundHound AI (NASDAQ: SOUN) on Friday after the company reported first-quarter results last night. Shares of the maker of technology for voice artificial intelligence (AI) solutions spiked after the report. The stock soared as much as 25% and was still trading higher by 14.3% as of 10:30 a.m. ET.

SoundHound's AI-driven products are increasingly being used for automotive, customer service, and Internet of things (IoT) applications. Revenue in the first quarter soared 73% compared to the prior-year period. The company also raised the bottom end of its full-year guidance range by $2 million to $65 million.

Source Fool.com

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