Form 8-K C3.ai, Inc. For: Jun 02

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Go back to Form 8-K C3.ai, Inc. For: Jun 02

C3.Ai (AI) Sinks After Missing on Sales Estimates, Analyst Slashes PT by Over 40% But Remains Bullish

June 3, 2021 8:56 AM EDT

Shares of C3.Ai (NYSE: AI) have plunged 11% in pre-open Thursday after the company reported slowing subscription revenue.

The companys revenue in the quarter that ended in April climbed 26% from the year-ago period to $52.3 million, marking a net loss of 24 cents a share, compared to analysts estimated revenue of $50.6 million and a 25-cent net loss per share. C3.ais remaining performance obligation surged 23% to $293.8 million.

"We achieved strong business and financial results in the fourth quarter and full fiscal year, as we advance our leadership position as the enterprise AI... More