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.