Why C3.ai Stock Was Surging Today
Shares of C3.ai (NYSE: AI) were jumping after the software-as-a-service (SaaS) platform for artificial intelligence posted better-than-expected preliminary results for its fiscal fourth quarter. It also concluded an investigation into short-seller allegations by Spruce Point and Kerrisdale Capital.
As of 11:39 a.m. ET, the stock was up 17.5%.
C3.ai said it exceeded its fourth-quarter guidance, with expected revenue of $72.1 million to $72.4 million, which is better than its forecast of $70 million to $72 million in revenue. That result was also better than the analyst consensus at $71.1 million, but just flat with revenue in the quarter a year ago at $72.3 million.
Source Fool.com
