Is C3.ai Stock a Buy Now?
C3.ai's (NYSE: AI) stock price popped 18% during after-hours trading on March 2 after its latest earnings report. For the third quarter of fiscal 2023 (ended on Jan. 31), the enterprise artificial intelligence (AI) software provider's revenue fell 4% year over year to $66.7 million but beat analysts' estimates by $2.4 million. Its adjusted net loss narrowed from $7.7 million to $6.2 million, or $0.06 per share, which also topped the consensus forecast by $0.16.
C3.ai management said it expects its revenue to decline 0% to 3% year over year in the fourth quarter and to rise 4% to 5% for the full year. That would represent a significant slowdown from its 38% revenue growth in fiscal 2022. It also expects its adjusted operating margins to stay negative in the fourth quarter and the full year.
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Source Fool.com
