Why C3.ai Stock Dropped Today
Shares of C3.ai (NYSE: AI) were down 12% as of 10:39 a.m. ET on Thursday after the company's earnings report for the fiscal quarter ending July.
Revenue of $72.4 million was slightly better than the $71.6 million analysts expected. The company's adjusted loss per share of $0.09 was narrower than in the year-ago quarter and better than the consensus estimate calling for a loss of $0.17.
What seemed to spook the market was slowing revenue growth and management's decision to invest more in its generative artificial intelligence (AI) opportunity, which will pressure profitability for fiscal 2024.
Source Fool.com
