SoundHound AI, Inc. (NASDAQ:SOUN) stock is trading lower Friday after the company reported an upbeat second-quarter print, boosted its guidance, and announced a fresh acquisition Thursday. The voice AI and speech recognition company reported revenue of $13.5 million, up 54% year over year and beating the analyst consensus estimate of $13.1 million. EPS loss of $(0.04) beat the analyst consensus loss estimate of $(0.09). Also Read: SoundHound’s AI Is Fueling Revenue Surge From Strong Demand In Automotive And Restaurant Sectors: Analyst SoundHound AI doubled its cumulative subscriptions & bookings backlog to $723 million. The company’s annual run rate of queries grew by 90% Y/Y to over 5 billion. The adjusted gross margin plunged 1,350 bps to 66.5%. SoundHound expects 2024 revenue to exceed ...