Microsoft and Automation Software Stocks Soar as Earnings Season Wraps Up

The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Automation software stocks have performed well, with share prices up 14.8% on average since the latest earnings results.

Microsoft (NASDAQ:MSFT) reported revenues of $90.01 billion, up 17.7% year on year, exceeding analysts' expectations by 2.6%. The company's stock is up 22.9% since reporting and currently trades at $479.98.

SoundHound AI (NASDAQ:SOUN), which develops voice recognition and conversational intelligence technology, reported revenues of $61.9 million, up 45% year on year, outperforming analysts' expectations by 18.1%. The business had an incredible quarter with a solid beat of analysts' billings estimates.

Pegasystems (NASDAQ:PEGA), which develops software that helps organizations automate workflows and use artificial intelligence to improve customer experiences and business processes, reported disappointing results, falling short of analysts' expectations by 7.4%.