C3 AI Reports “Great” Q3 Fiscal 2024 Financial Results
DENVER, Colo., Feb 29, 2024 (247marketnews.com)- C3.ai, Inc. (NYSE:AI) reported, after yesterday’s market close, its fiscal 2024 third quarter financial results.
Third quarter revenue topped guidance and grew 18% to $78.4 million, compared to $66.7 million one year ago, with subscription accounting for 90 % of the revenue
C3 raised its fiscal fourth quarter guidance to $82-$86 million and full year guidance to $306-$310 million.
C3 is trading at $34.19, up $4.50 (+15.16%), on trading volume of 175,861 shares.
“We had a great quarter. Total revenue of $78.4 million grew 18% year-over-year, exceeding our guidance range. Customer engagement grew 80% year-over-year,” said C3 AI CEO and Chairman Thomas M. Siebel. “Our significant first mover advantage in Enterprise AI is generating tailwinds as market interest in adopting AI accelerates.”
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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
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