C3.ai plunges 17% following second-quarter results

Dec. 02, 2021 10:47 AM ETC3.ai, Inc. (AI)By: Chris Ciaccia, SA News Editor29 Comments

C3.ai (NYSE:AI) shares are plunging more than 17% to $27.98 after the company posted second-quarter earnings on Wednesday.
The company said second-quarter revenue was $58.3M, 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 $57M in revenue.
For the third-quarter, C3.ai (AI) said revenue will be between $66M-68M and it will lose between $26M-30M on an adjusted basis. Led by Chief Executive Officer, Thomas Siebel, C3.ai raised its full-year revenue guidance, saying it now expects sales to be between $248M-250M million, up from a prior range of $243M-247M.