Posted 2/28/2024, 9:37:00 PM
C3.ai Stock Up 13% as AI Software Company Beats Q3 Expectations with Lower Loss, Higher Revenue
- C3.ai reported better-than-expected fiscal Q3 results with a loss of 13 cents per share (adjusted) vs expected 28 cents per share loss
- Revenue was $78.4 million, beating expectations of $76.1 million
- The company closed 50 new agreements and 29 new pilots during the quarter
- Bookings were diversified across industries like state/local government (29%) and federal/defense/aerospace (25%)
- C3.ai stock popped 13% in after-hours trading following the earnings beat