C3.ai (NYSE: AI) posted its latest earnings report on Wednesday, Dec. 7. For the second quarter of fiscal 2023 (which ended on Oct. 31), the enterprise AI software company's revenue rose 7% year over year to $62.4 million, which exceeded its previous guidance for 3%-6% growth and beat analysts' estimates by $1.6 million.
But on a GAAP (generally accepted accounting principles) basis, C3.ai's net loss widened from $56.7 million to $68.9 million. On a non-GAAP basis (which excludes its stock-based compensation and other one-time expenses), its net loss narrowed from $23.6 million to $11.8 million, or $0.11 per share, and cleared the consensus forecast by a nickel.
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