Agora Inc. (API) saw its stock soar 5.49% in Wednesday's intraday trading session, driven by the company's better-than-expected Q3 2024 earnings report and positive developments in its conversational AI initiatives.
The company reported a 3% year-over-year increase in revenue for the third quarter, backed by strong demand in areas like live shopping. Additionally, Agora launched a new conversational AI software development kit (SDK) in collaboration with OpenAI, enhancing its product offerings and positioning itself in the rapidly growing AI market.
Agora's 10th annual RTE conference also saw record attendance, highlighting the industry's interest in the company's real-time conversational AI solutions. Furthermore, the company expects significant improvement in its net income loss in the fourth quarter, with projected revenue growth driven by demand in both international and China markets.
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