C3.ai's (NYSE: AI) stock plunged 22% in after-hours trading this past Wednesday, following the release of its latest earnings report. Let's review.
For the fourth quarter of its fiscal 2023, which ended on April 30, the artificial intelligence (AI) enterprise software company's revenue stayed nearly flat year over year at $72.4 million, but still surpassed analysts' expectations by $1 million. The company narrowed its adjusted net loss from $22.6 million in the year-ago period to $15.2 million, or $0.13 per share, which cleared the consensus forecast by $0.04 per share.
For the full fiscal year, C3.ai's revenue rose 6% to $266.8 million as it narrowed its adjusted net loss from $76.7 million to $46.4 million, or $0.42 per share.
Source Fool.com