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The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $6.54 million, suggesting a 52.45% growth from the figure reported in the year-ago quarter.
The consensus mark for loss has worsened by 20% to 12 cents per share in the past 30 days, suggesting a 94% 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 missed the mark once. SOUN has a trailing four-quarter earnings surprise of -453.82%, 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 first 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, as reflected from its strong customer engagement and sound execution. The company is actively investing in R&D to develop and scale its cloud offerings and innovation in AI and machine learning to meet evolving demand.
During the to-be-reported quarter, SoundHound introduced Dynamic Interaction that combines with Generative AI to improve human computer interaction and provide real-time audiovisual feedback. This is expected to have increased its adoption within product creators, driving its top line.
The company may have gained from a growing partner base in the first quarter. It has expanded its partnership with enterprises like Snap and LG and a series of companies in automotive space to deliver SoundHound’s voice AI on devices and services on a global scale.
What Our Model Says
The Zacks model predicts that 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) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Image: Bigstock
What's in Store for SoundHound AI's (SOUN) Q1 Earnings?
SoundHound AI (SOUN - Free Report) is slated to release first-quarter 2023 results on May 11.
The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $6.54 million, suggesting a 52.45% growth from the figure reported in the year-ago quarter.
The consensus mark for loss has worsened by 20% to 12 cents per share in the past 30 days, suggesting a 94% 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 missed the mark once. SOUN has a trailing four-quarter earnings surprise of -453.82%, 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 first 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, as reflected from its strong customer engagement and sound execution. The company is actively investing in R&D to develop and scale its cloud offerings and innovation in AI and machine learning to meet evolving demand.
During the to-be-reported quarter, SoundHound introduced Dynamic Interaction that combines with Generative AI to improve human computer interaction and provide real-time audiovisual feedback. This is expected to have increased its adoption within product creators, driving its top line.
The company may have gained from a growing partner base in the first quarter. It has expanded its partnership with enterprises like Snap and LG and a series of companies in automotive space to deliver SoundHound’s voice AI on devices and services on a global scale.
What Our Model Says
The Zacks model predicts that 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) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Cisco Systems (CSCO - Free Report) has an Earnings ESP of +1.59% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cisco’s shares have slumped 2.8% year to date. CSCO is set to report its third-quarter fiscal 2023 results on May 17.
Docebo (DCBO - Free Report) has an Earnings ESP of +33.33% and a Zacks Rank of 3.
Docebo’s shares have gained 13.6% year to date. DCBO is set to report first-quarter fiscal 2023 results on May 11.
MakeMyTrip Limited (MMYT - Free Report) has an Earnings ESP of +78.95% and is Zacks #2 Ranked.
MMYT’s shares have dropped 7.3% year-to-date. MakeMyTrip is set to report its fourth-quarter fiscal 2023 results on May 16.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.