C3.ai, Inc. (AI) stock surged 5.83% in the pre-market trading session on Friday as investors anticipated the company's fiscal second-quarter earnings report scheduled for next week. The AI software firm's shares have been gaining traction recently, driven by growing demand for its enterprise AI solutions and the expanding adoption of its generative AI offerings.
According to analysts' estimates, C3.ai is expected to report a quarterly loss of 16 cents per share on revenue of $91.02 million, reflecting a 24.28% year-over-year increase. While the company has consistently beaten earnings estimates in recent quarters, investors are closely monitoring its ability to capitalize on the burgeoning AI market and sustain its growth momentum.
C3.ai's partnerships with tech giants such as Microsoft, Amazon, and Google Cloud have been instrumental in driving the adoption of its AI solutions across various industries. The company has secured numerous agreements with major firms, including Eletrobras, Cargill, Dolce & Gabbana, and Tractor Supply, for its generative AI offerings. Additionally, C3.ai's strong presence in the federal sector, with contracts from the U.S. Air Force, Navy, Marine Corps, and Intelligence Community, has contributed to its revenue growth.
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