$C3.ai (AI.US)$ reported quarterly losses of $-0.06 per share which beat the analyst consensus estimate of $-0.16 by 62.5%. This is a 53.85% increase over losses of $-0.13 per share from the same period last year. The stock is trading more than 14% higher just past 4:20pm ET.
The company reported quarterly sales of $94.34 million which beat the analyst consensus estimate of $91.02 million by 3.65%. This is a 28.83% increase over sales of $73.23 million the same period last year.
“We had an outstanding quarter with strong top- and bottom-line performance to mark our seventh consecutive quarter of accelerating revenue growth,” said Thomas M. Siebel, Chairman and CEO, C3 AI.
“It is difficult to overstate the potential of the Microsoft–C3 AI strategic alliance,” said Siebel. “By establishing C3 AI as a preferred AI application provider on Azure and creating a Microsoft-scale go-to-market engine, we’re making it easy for businesses to adopt and deploy C3 AI applications. This is an inflection point for Enterprise AI, driving growth.”
