Why C3.ai Stock Is Plunging After Hours

C3.Ai Inc AI shares are trading lower in Wednesday's after-hours session after the company reported financial results and issued guidance below analyst estimates.

C3.ai said fiscal fourth-quarter revenue increased 38% year-over-year to $72.3 million, which beat the estimate of $71.28 million, according to data from Benzinga Pro. The company reported a quarterly loss of 21 cents per share, which beat the estimate for a loss of 29 cents per share.

"Our strong fiscal 2022 performance further strengthens our position as a global leader in the Enterprise AI market and sets the stage for growth in fiscal 2023," said Thomas Siebel, CEO of C3.ai.

C3.ai expects fiscal first-quarter revenue to be between $65 million and $67 million versus the estimate of $74.44 million. The company expects full-year fiscal 2023 revenue to be between $308 million and $316 million versus the estimate of $333.88 million.

AI Price Action: C3.ai shares have traded between $13.37 and $76.85 over a 52-week period.

The stock was down 20.20% in after hours at $14.81 at press time.

Photo: Gerd Altmann from Pixabay.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceSmall CapMoversTrading IdeasThomas Siebelwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!