Why C3.ai Stock Is Plunging After Hours

C3.Ai Inc AI shares are trading lower in Wednesday's after-hours session after the company reported financial results and issued guidance below analyst estimates.

C3.ai said fiscal fourth-quarter revenue increased 38% year-over-year to $72.3 million, which beat the estimate of $71.28 million, according to data from Benzinga Pro. The company reported a quarterly loss of 21 cents per share, which beat the estimate for a loss of 29 cents per share.

"Our strong fiscal 2022 performance further strengthens our position as a global leader in the Enterprise AI market and sets the stage for growth in fiscal 2023," said Thomas Siebel, CEO of C3.ai.

C3.ai expects fiscal first-quarter revenue to be between $65 million and $67 million versus the estimate of $74.44 million. The company expects full-year fiscal 2023 revenue to be between $308 million and $316 million versus the estimate of $333.88 million.

AI Price Action: C3.ai shares have traded between $13.37 and $76.85 over a 52-week period.

The stock was down 20.20% in after hours at $14.81 at press time.

Photo: Gerd Altmann from Pixabay.

Posted In: Thomas Siebelwhy it's movingEarningsNewsGuidanceSmall CapMoversTrading Ideas

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