Veritone slumps after company withdraws forecast

Veritone

31/05/2023 15:18

(Updates)
    ** Shares of artificial intelligence (AI) software firm
Veritone Inc  VERI.O  slide 10.5% to $3.81 
    ** VERI withdraws Q2 and full-year forecast after Amazon.com
Inc  AMZN.O  says will reduce consumption of VERI's human
resources products and services, effective mid-May through at
least July 
    ** Co says Amazon's decision will reduce Q2 revenue by $4
mln to $5 mln
    ** Analysts expect VERI's revenue to be $32.8 in the second
quarter - Refinitiv
    ** Veritone says it will acquire job advertising and
recruitment co Broadbean in a $52 mln all cash deal  
    ** As of last close, stock had fallen ~20% YTD
    

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com; https://twitter.com/i_jass;))