C3.ai Q2 Earnings Highlights: Revenue Miss, EPS Beat, 'Unprecedented Interest And Traction' In Generative AI Offerings
Portfolio Pulse from Adam Eckert
C3.ai Inc (NYSE:AI) reported Q2 financial results with a revenue increase of 17% year-over-year to $73.23 million, missing estimates by $1.1 million. The company beat EPS estimates with an adjusted loss of 13 cents per share versus the expected 18 cents. Subscription revenues grew by 12%, and customer engagement by 81%. C3.ai closed 62 customer agreements, including 36 pilots, and ended the quarter with $762.3 million in cash and investments. The company expressed strong interest in generative AI offerings and plans to invest further in this area, expecting to accelerate growth and gain market share. C3.ai provided a Q3 revenue outlook of $74 million to $78 million and reaffirmed full-year 2024 revenue projections of $295 million to $320 million. After the report, C3.ai shares dropped 8.88% in after-hours trading.
December 06, 2023 | 10:19 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
C3.ai reported a revenue miss but an EPS beat in Q2. The company is experiencing strong interest in generative AI and plans to increase investments in this area. Shares fell 8.88% after hours following the earnings report.
The revenue miss is likely to concern investors, despite the EPS beat and positive outlook on generative AI offerings. The after-hours stock price decline indicates a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100