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C3.ai Stock Drops 22% on Lighter-Than-Expected Annual Revenue Guidance

TheMotleyFool

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C3.ai Stock Drops 22% on Lighter-Than-Expected Annual Revenue Guidance: https://g.foolcdn.com/editorial/images/734638/c3ai-stock-earnings-artificial-intelligence-stocks.jpg

Shares of C3.ai (NYSE: AI) dropped 22.4% in after-hours trading on Wednesday, after the enterprise artificial intelligence (AI) application software company released its results for the fourth quarter of fiscal 2023 (which ended April 30).

The stock's decline is largely attributable to management's revenue guidance for fiscal 2024 coming in lower than Wall Street was expecting.

Data source: C3.ai. GAAP = generally accepted accounting principles. YOY = year over year. *Calculations by author.

Source Fool.com

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