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The Zacks Consensus Estimate for third-quarter 2023 revenues is pegged at $12.29 million, suggesting a 9.86% growth from the figure reported in the year-ago quarter.
The consensus mark for loss has remained unchanged at 9 cents per share in the past 30 days, suggesting a 40% growth from the figure reported in the year-ago quarter.
SoundHound’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and matched the mark once. SOUN has a trailing four-quarter earnings surprise of 10.05% on average.
Let’s see how things have shaped up for the upcoming announcement.
Factors to Consider
SoundHound is expected to have experienced strong demand and adoption of its conversational AI platform, powered by the recent popularization of Generative AI and large language models.
Its performance in the third quarter is likely to have benefited from the launch of SoundHound Chat AI, which combines the power of conversational AI and machine learning generative AI to deliver a virtual assistant experience.
SoundHound experiences a solid demand for its independent AI-powered products, reflected by its strong customer engagement and sound execution.
In addition to its strong position in the automotive sector, SOUN’s dedication to operational efficiency is anticipated to drive growth in the next quarter.
SOUN has been leveraging Generative AI capabilities to improve its voice-based ecosystem. Its solutions, like Dynamic Interaction and Smart Answering, combine with Generative AI to provide real-time audiovisual feedback and respond to more open-ended questions with personalized answers. This is expected to have increased its adoption among product creators, driving the top line.
The company might have gained from a growing partner base in the third quarter. It expanded its partnership with enterprises like Oracle, Qualcomm and LG and a series of companies in the automotive space to deliver SoundHound’s voice AI on devices and services on a global scale.
SoundHound partnered with a series of companies from the restaurant business to expand its AI customer service solutions like Smart Ordering and Smart Answering. These partnerships are likely to improve adoption, user experience and revenue per device in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
SoundHound has an Earnings ESP of +0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release:
Image: Bigstock
What's in Store for SoundHound AI's (SOUN) Q3 Earnings?
SoundHound AI (SOUN - Free Report) is slated to release third-quarter 2023 results on Nov 9.
The Zacks Consensus Estimate for third-quarter 2023 revenues is pegged at $12.29 million, suggesting a 9.86% growth from the figure reported in the year-ago quarter.
The consensus mark for loss has remained unchanged at 9 cents per share in the past 30 days, suggesting a 40% growth from the figure reported in the year-ago quarter.
SoundHound’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and matched the mark once. SOUN has a trailing four-quarter earnings surprise of 10.05% on average.
SoundHound AI, Inc. Price and EPS Surprise
SoundHound AI, Inc. price-eps-surprise | SoundHound AI, Inc. Quote
Let’s see how things have shaped up for the upcoming announcement.
Factors to Consider
SoundHound is expected to have experienced strong demand and adoption of its conversational AI platform, powered by the recent popularization of Generative AI and large language models.
Its performance in the third quarter is likely to have benefited from the launch of SoundHound Chat AI, which combines the power of conversational AI and machine learning generative AI to deliver a virtual assistant experience.
SoundHound experiences a solid demand for its independent AI-powered products, reflected by its strong customer engagement and sound execution.
In addition to its strong position in the automotive sector, SOUN’s dedication to operational efficiency is anticipated to drive growth in the next quarter.
SOUN has been leveraging Generative AI capabilities to improve its voice-based ecosystem. Its solutions, like Dynamic Interaction and Smart Answering, combine with Generative AI to provide real-time audiovisual feedback and respond to more open-ended questions with personalized answers. This is expected to have increased its adoption among product creators, driving the top line.
The company might have gained from a growing partner base in the third quarter. It expanded its partnership with enterprises like Oracle, Qualcomm and LG and a series of companies in the automotive space to deliver SoundHound’s voice AI on devices and services on a global scale.
SoundHound partnered with a series of companies from the restaurant business to expand its AI customer service solutions like Smart Ordering and Smart Answering. These partnerships are likely to improve adoption, user experience and revenue per device in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
SoundHound has an Earnings ESP of +0.00% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release:
NetEase (NTES - Free Report) has an Earnings ESP of +0.00% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
NetEase is set to announce third-quarter 2023 results on Nov 16. NTES shares have gained 55.2% year to date.
Synopsys (SNPS - Free Report) has an Earnings ESP of +0.94% and a Zacks Rank #1.
Synopsys is set to announce third-quarter 2023 results on Nov 29. SNPS shares are up 58.2% year to date.
Snowflake(SNOW - Free Report) has an Earnings ESP of +15.71% and a Zacks Rank #2.
Snowflake is set to announce third-quarter 2023 results on Nov 29. SNOW shares have returned 4.5% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.