Rigetti Computing, a quantum computing company, witnessed a 5.13% plunge in its stock price during the after-hours trading session on Wednesday. This sharp decline came after the company reported its fourth-quarter earnings, which fell short of analysts' expectations.

The company reported a quarterly loss of $0.08 per share, meeting the consensus estimate, but its revenue of $2.27 million missed the analyst consensus estimate of $2.50 million by 9.04%. Additionally, Rigetti Computing reported an operating loss of $18.5 million and a net loss of $153 million for the fourth quarter, significantly higher than analysts' expectations.

The disappointing financial results raised concerns among investors about the company's ability to achieve profitability and sustain growth in the highly competitive quantum computing market. Rigetti Computing faces tough questions about its future prospects, as the quantum computing industry is still in its early stages and faces significant technological and financial challenges.