C3.ai Inc (NYSE:AI) shares are trading lower Thursday on the heels of the company’s quarterly results. Here’s a look at key metrics from the quarter.
- Q1 Revenue: $72.4 million beat estimates of $71.59 million
- Q1 EPS: loss of 9 cents beat estimates for a loss of 17 cents
“It is difficult to describe the scale of the increasing interest that we are seeing globally in enterprise AI adoption,” said Thomas Siebel, CEO of C3.ai.
“We are experiencing strong traction with our enterprise AI applications and especially C3 Generative AI.”
Guidance: C3.ai sees fiscal second-quarter revenue in the range of $72 million to $76.5 million versus estimates of $73.81 million. The company expects full-year revenue to be between $295 million and $320 million versus estimates of $308.2 million.
AI Update: C3.ai also announced the launch of C3 Generative AI Suite, which features 28 domain-specific generative AI offerings. The AI solutions can be operated on the customer’s platform of choice including, AWS, Google’s Cloud platform and Microsoft Azure.
“The market interest that we are seeing in C3 Generative AI is staggering. The addressable market is unknowably large and appears to more than double our Enterprise AI market opportunity,” Siebel added.
See Also: Dell Becomes One Of The Early Generative AI Winners
AI Price Action: C3.ai shares were down 13.5% at $27.22 at the time of writing, according to Benzinga Pro.
Photo: Vicki Hamilton from Pixabay.
