C3.ai Stock Slides On Q1 Earnings Despite 'Strong Traction' With AI Applications, New Generative AI Suite
Portfolio Pulse from Adam Eckert
C3.ai Inc reported Q1 revenue of $72.4 million, beating the consensus estimate of $71.59 million. The company also reported a quarterly loss of 9 cents per share, which was less than the estimated loss of 17 cents per share. C3.ai expects Q2 revenue to be between $72 million and $76.5 million, and full-year revenue to be between $295 million and $320 million. The company also launched the C3 Generative AI Suite, which includes 28 domain-specific generative AI offerings. Despite the positive report, C3.ai shares were down 3.85% after hours.
September 06, 2023 | 8:51 pm
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C3.ai reported better than expected Q1 results and launched a new product suite, but its stock price fell 3.85% after hours.
C3.ai reported better than expected Q1 results and launched a new product suite, which are positive developments. However, the company's stock price fell after hours, indicating that the market may have had higher expectations or there may be other factors at play affecting investor sentiment.
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