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: C3.ai stock drops following earnings report

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C3.ai Inc. shares fell in the extended session Wednesday after the artificial-intelligence software company reported its quarterly results.

C3.ai
AI,
+6.12%

shares fell 9% after hours, following a 6.1% gain in the regular session to close at $76.15. In December, the stock finished up more than double its initial pricing of $42 in its Wall Street debut, and is currently 81% above its IPO pricing.

The company reported a fourth-quarter loss of $24.5 million, or 24 cents a share, compared with a loss of $30.2 million, or 82 cents a share, in the year-ago period. Analysts surveyed by FactSet had estimated a loss of $32.7 million, or 34 cents a share.

Revenue rose to $52.3 million from $41.6 million in the year-ago quarter. Analysts had forecast revenue of $50.6 million.

C3.ai forecast revenue of $50 million to $52 million for the first quarter, and revenue of $243 million to $247 million for the year. Analysts had estimated revenue of $50.8 million for the fourth quarter, and revenue of $240 million for the year.

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