SoundHound AI exceeded Wall Street’s sales and earnings expectations in the second quarter, with a strong sales momentum and an increased full-year sales outlook. The company is poised for significant sales growth this year. Shares of SoundHound AI (NASDAQ: SOUN) surged 26.4% in Friday’s trading session. The company reported an adjusted loss of $0.03 per share on sales of $42.7 million in the second quarter, surpassing market estimates. Revenue was up roughly 217% year over year. SoundHound AI raised its full-year revenue forecast to between $160 million and $178 million, indicating a potential annual sales growth of nearly 100%. The company has been accelerating revenue significantly and is on track to meet or exceed its updated sales guidance.

Read more at Yahoo Finance: Why SoundHound AI Stock Skyrocketed Today