C3.ai, Inc. (AI) shares skyrocketed over 18% in the after-hours trading session on Monday, following the company's impressive fiscal second-quarter results and an upward revision to its full-year revenue guidance.
The enterprise artificial intelligence software provider reported quarterly revenue of $94.3 million, surpassing analysts' expectations of $91 million. On the bottom line, C3.ai posted an adjusted loss of just 6 cents per share, significantly better than the consensus estimate of a 16-cent loss.
Highlighting the strong performance, C3.ai CEO Thomas M. Siebel stated, "We had an outstanding quarter with strong top- and bottom-line performance to mark our seventh consecutive quarter of accelerating revenue growth." The company also announced a new global alliance with Microsoft, further solidifying its position in the enterprise AI space.
Buoyed by the robust Q2 results, C3.ai raised its fiscal 2025 revenue guidance to a range of $378 million to $398 million, up from its prior forecast of $370 million to $395 million. This outlook surpassed analysts' expectations of $382.57 million for the full year.
The stellar quarterly performance and optimistic outlook underscore the growing demand for C3.ai's enterprise AI solutions as businesses across various industries increasingly adopt artificial intelligence to streamline operations and drive growth.
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