C3.ai stock edges higher as revenue, earnings beat estimates
- C3.ai (NYSE:AI) shares rose slightly as the company beat Wall Street estimates on earnings and revenue.
- C3.ai (AI) shares tacked on nearly 2% to $34.50 in after-hours trading on back of the results.
- The company said second-quarter revenue was $58.3 million, up 41% year-over-year. During the quarter, it posted an adjusted loss of 23 cents per share. Its GAAP net loss was 55 cents per share.
- Wall Street analysts surveyed expected C3.ai (AI) to report a loss of 29 cents a share on $57 million in revenue.
- For the third-quarter, C3.ai (AI) said revenue will be between $66 and $68 million and it will lose between $26 and $30 million on an adjusted basis. C3.ai raised its full-year revenue guidance, saying it now expects sales to be between $248 million and $250 million, up from a prior range of $243 million to $247 million.
- The company is hosting a conference call at 5 p.m. EST to discuss the results.
- C3.ai (AI) shares fell more than 8% to $33.83 ahead of the results.
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Comments (12)
@chris hafferty How is 1.08 Billion a poor cash position? They literally have enough cash to last 9 years at the current burn rate.
aren't the numbers all wrong too? i'm seeing $58.3M qtrly rev / 41% inc compare ...non-GAAP earn of ($0.23) - maybe b/c above says FY Q1 and release is for FY Q2 [edited to improve figure labels]ir.c3.ai/...
