C3.ai Stock Soars 20% on Strong Quarterly Results and Customer Growth
• C3.ai's stock jumped over 20% after strong quarterly results, with revenue growing 18% and 50 new customer deals signed.
• The company posted a net loss of $72.6 million, but exceeded earnings expectations for the 12th straight quarter.
• C3.ai offers an extensive AI software suite across 5 components, attracting major enterprises like Boston Scientific and AbbVie.
• For fiscal Q4, C3.ai forecasts revenue of $82-86 million, aligned with consensus estimates of $84 million (16% growth).
• For full fiscal year 2024, total sales are expected around $306-310 million (14% growth), roughly matching consensus of $305.6 million.