C3.ai Stock Soars 24% on Strong Earnings Beat and Positive Growth Outlook
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C3.ai stock jumped 24% after strong Q3 earnings results, beating revenue estimates. Guidance was also positive.
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C3.ai switched to a consumption-based model from subscription to reduce barriers and drive deals. The strategy is working, with more $1M+ deals.
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C3.ai is poised to benefit from AI software market growth expected to hit $1 trillion in annual revenue by 2032.
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C3.ai stock trades at just 14x sales, much cheaper than Palantir at 26x sales. Earnings growth predicted to be strong.
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C3.ai seems set for more growth ahead, giving investors a chance to buy the stock before it gets more expensive.