SoundHound AI Inc (SOUN) saw its stock surge 5.73% in the 24-hour period ending Sunday, March 2nd, during the overnight and pre-market trading sessions. This rally comes on the heels of the company's impressive fourth quarter 2024 earnings report released after market close on Friday.
The artificial intelligence company delivered a strong beat on both earnings and revenue for Q4. SoundHound reported a loss per share of just 5 cents, compared to analysts' expectations of an 8 cent loss. Revenue soared 101% year-over-year to $34.5 million, exceeding estimates by $840,000.
Buoying investor optimism further, SoundHound raised its 2025 revenue guidance range to $157 million - $177 million, up from the previous $155 million - $175 million range. CEO Keyvan Mohajer cited major customer wins, expanded partnerships, groundbreaking generative AI innovation, and strategic acquisitions as key drivers powering the company's growth momentum.
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