C3.ai, a maker of artificial intelligence software, reported a smaller-than-expected loss in its fiscal second-quarter earnings, sending shares up 10.4% to near $46 in early trading. The company’s revenue rose 29% to $94.3 million, exceeding analysts’ estimates.
The software maker, which helps companies build AI applications for the energy, financial services, and defense sectors, expects revenue growth to accelerate as more AI pilot projects transition into commercial production. C3.ai has also announced an expanded partnership with Microsoft.
C3.ai’s stock had advanced 44% in 2024 before the earnings report, and its Relative Strength Rating was 93 out of 99 heading into the announcement. The company is transitioning to consumption-priced services and plans to disclose pricing for new generative AI products soon.
Source: https://www.investors.com/news/technology/ai-stock-c3-ai-stock-c3-ai-earnings-news