Why C3.ai Stock Plummeted Today
Shares of C3.ai (NYSE: AI) plummeted today, down by 13% as of 11:15 a.m. EST, after the company reported fiscal third-quarter earnings results. This was the artificial intelligence (AI) specialist's first earnings release as a public company following its initial public offering (IPO) in December.
Revenue in the fiscal third quarter, which ended Jan. 31, was $49.1 million, beating the consensus estimate of $47.3 million in sales. That top line included $42.7 million in subscription revenue and $6.4 million in professional services revenue. The enterprise AI company posted a net loss per share of $0.23, which was worse than the $0.19 per share in adjusted net losses analysts were modeling for. Adjusted operating loss for the quarter was $11.9 million.
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Source Fool.com
