C3.ai Narrows 2Q Loss on Subscription Revenue Growth

Dow Jones

Dec 10, 2024

By Kailyn Rhone

C3.ai narrowed its loss in the second quarter as sales rose due to higher subscription revenue.

The artificial-intelligence software company posted on Monday a loss of $66 million, or 52 cents a share, compared with a loss of $69.8 million, or 59 cents a share, in the same quarter a year ago. Analysts polled by FactSet expected a loss of 60 cents a share.

Shares climbed 16% to $48.48 in after hours trading.

Revenue rose 29% to $94.3 million, above the company's previous guidance and topping the $91 million analysts forecast, according to FactSet.

Subscription revenue was up 22% to $81.2 million from the year-ago quarter, but missed analysts expectations of $80.2 million.

The Redwood City, Calif.-based company said its Microsoft strategic alliance will accelerate its adoption of enterprise AI and continue to drive growth.

C3.ai expects to see third quarter revenue between $95.5 million to $100.5 million, in line with the $97.6 million analysts expected.

For the full year, the company expects to see revenue between $378 million to $398 million, which brackets analysts' expectations of $382.6 million.

Write to Kailyn Rhone at kailyn.rhone@wsj.com

(END) Dow Jones Newswires

December 09, 2024 16:33 ET (21:33 GMT)

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Analysts polled by FactSet expected a loss of 60 cents a share. \n</p>\n<p>\n  Shares climbed 16% to $48.48 in after hours trading. \n</p>\n<p>\n  Revenue rose 29% to $94.3 million, above the company's previous guidance and topping the $91 million analysts forecast, according to FactSet. \n</p>\n<p>\n  Subscription revenue was up 22% to $81.2 million from the year-ago quarter, but missed analysts expectations of $80.2 million. \n</p>\n<p>\n  The Redwood City, Calif.-based company said its Microsoft strategic alliance will accelerate its adoption of enterprise AI and continue to drive growth. \n</p>\n<p>\n  C3.ai expects to see third quarter revenue between $95.5 million to $100.5 million, in line with the $97.6 million analysts expected. \n</p>\n<p>\n  For the full year, the company expects to see revenue between $378 million to $398 million, which brackets analysts' expectations of $382.6 million. \n</p>\n<p>\n  Write to Kailyn Rhone at kailyn.rhone@wsj.com \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 09, 2024 16:33 ET (21:33 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AI","symbol_name":"C3.ai, Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2490851820","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490851820","pubTimestamp":1733779980,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"C3.ai narrowed its loss in the second quarter as sales rose due to higher subscription revenue.The artificial-intelligence software company posted on Monday a loss of $66 million, or 52 cents a share, compared with a loss of $69.8 million, or 59 cents a share, in the same quarter a year ago. 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Analysts polled by FactSet expected a loss of 60 cents a share. \n\n\n  Shares climbed 16% to $48.48 in after hours trading. \n\n\n  Revenue rose 29% to $94.3 million, above the company's previous guidance and topping the $91 million analysts forecast, according to FactSet. \n\n\n  Subscription revenue was up 22% to $81.2 million from the year-ago quarter, but missed analysts expectations of $80.2 million. \n\n\n  The Redwood City, Calif.-based company said its Microsoft strategic alliance will accelerate its adoption of enterprise AI and continue to drive growth. \n\n\n  C3.ai expects to see third quarter revenue between $95.5 million to $100.5 million, in line with the $97.6 million analysts expected. \n\n\n  For the full year, the company expects to see revenue between $378 million to $398 million, which brackets analysts' expectations of $382.6 million. \n\n\n  Write to Kailyn Rhone at kailyn.rhone@wsj.com \n\n\n  (END) Dow Jones Newswires\n\n\n  December 09, 2024 16:33 ET (21:33 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}