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March 1, 2021, 5:23 p.m. EST

C3.ai stock falls on first public earnings report after nearly tripling IPO price

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By Wallace Witkowski

AI

C3.ai Inc. /zigman2/quotes/222990672/composite AI -4.09% shares fell in the extended session Monday after the artificial-intelligence software company reported its first quarterly results as a public company following a big run-up in its stock price. C3.ai shares fell 11% after hours, following a 7.6% gain in the regular session to close at $121.05. In December, the stock finished up more than double its initial pricing of $42 in its Wall Street debut , and is currently 188% above its IPO pricing. The company reported a third-quarter loss of $16.9 million, or 23 cents a share, compared with a loss of $9.8 million, or 27 cents a share, in the year-ago period. The company’s adjusted loss, which excludes stock-based compensation expenses and other items, was $11.9 million, while analysts surveyed by FactSet had estimated $16 million. C3 did not provide an adjusted loss per-share figure. Revenue rose to $49.1 million from $41.3 million in the year-ago quarter. Analysts had forecast revenue of $47.3 million. C3.ai forecast revenue of $50 million to $51 million for the fourth quarter, and revenue of $180.9 million to $181.9 million for the year. Analysts had estimated revenue of $48.3 million for the fourth quarter, and revenue of $177.1 million for the year.

/zigman2/quotes/222990672/composite
US : U.S.: NYSE
$ 56.34
-2.40 -4.09%
Volume: 2.73M
May 6, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.93 billion
Rev. per Employee
N/A
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