C3.ai Stock Soars On Q3 Results - Here's Why
Portfolio Pulse from Erica Kollmann
C3.ai, Inc. (NYSE:AI) reported Q3 financial results surpassing analyst expectations with a loss of 13 cents per share against an estimated loss of 28 cents, and sales of $78.4 million against an estimated $76.14 million. The company's year-over-year revenue grew by 18%, with significant growth in customer engagement and partner-supported bookings. C3.ai's stock soared by 15.80% after-hours to $34.33 following the announcement. The company forecasts Q4 revenue between $82 million to $86 million and anticipates a non-GAAP loss from operations for fiscal year 2024.
February 28, 2024 | 9:26 pm
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C3.ai reported better-than-expected Q3 results with a smaller loss and higher sales than anticipated, leading to a 15.80% increase in its stock price after-hours.
C3.ai's Q3 financial results exceeded analyst expectations in both earnings and revenue, demonstrating strong performance and growth potential. This positive news directly impacts investor sentiment and the company's stock price, leading to a significant after-hours increase. The company's optimistic outlook for Q4 and the fiscal year further supports the potential for continued positive performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100