C3.AI up 15% on quarterly report
- C3.ai (NYSE:AI) Shares:
- Pre-trade growth: A significant increase of more than 15% on Thursday.
- Reason for the increase: the release of the Q3 financial report, which beat expectations. $AI
- Q3 Financial Results:
- Loss per share: $0.13 (vs. projected loss of $0.28).
- Revenues: USD 78.4 million (beating the estimate of USD 76.14 million).
- Subscription: 90% of revenue, $70.4 million, up 23% from last year.
- Performance and revenue from the federal government: 100% and 85% year-over-year increases, respectively.
- Benefit and look ahead:
- CEO Thomas M. Siebel Attributes success in enterprise artificial intelligence.
- Expectations: Market interest in AI is accelerating.
- Revenue expectations: US$82-86 million for Q4, US$306-310 million for fiscal year 2024.
Do you know this company and would you consider a potential investment in it?
This is positive news and nice results. A company I once had for a while, took some profit there on that first growth, but then pulled back, it seemed very volatile to me, the way it moved around a lot at the beginning of the AI boom. How do you see it today? 😊