SOUN - SoundHound AI Revenue Continues to Surge. Is It Time to Pile Into the Stock?
2024-05-14 10:15:00 ET
SoundHound AI (NASDAQ: SOUN) gained investor attention earlier this year when it was revealed that tech giant Nvidia (NASDAQ: NVDA) made an investment in the voice artificial intelligence (AI) company. What attracted Nvidia to the company was on full display when SoundHound recently reported its latest results.
Revenue for the first quarter surged 73%, which will come as some relief to investors. Revenue growth had slowed to only 19% in the third quarter of 2023. But this latest result now marks the second-straight big revenue growth quarter for the company. Its revenue surged in the fourth quarter as well, rising 80%.
With SoundHound's growth clearly back on track, let's look at whether it is time to pile into the stock.
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SoundHound AI Revenue Continues to Surge. Is It Time to Pile Into the Stock?