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Ginkgo Bioworks Stock Falls On Disappointing Q1 Sales: ‘This Trend Needs To Change’

Ginkgo Bioworks reported quarterly sales of $38 million which missed the analyst consensus estimate of $46.044 million by 17.47% and is a 52.91% decrease in sales year-over-year. The company said the decrease in sales was primarily driven by the expected ramp down of K-12 testing in Ginkgo's Biosecurity segment.

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SoundHound AI Q1 Earnings: Revenue Beat, EPS Beat, ‘Business Momentum Continues To Accelerate’ And More

SoundHound reported first-quarter revenue of $11.6 million, which beat the consensus estimate of $10.6 million, according to Benzinga Pro. The company's top-line results were up 73% on a year-over-year basis. SoundHound reported an adjusted loss of 7 cents per share, which beat analyst estimates for a loss of 9 cents per share.

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