Company Snapshot: The Times They Are “AI-Changin’” – C3.ai Stuns on Earnings (AI)

Artificial intelligence software company, C3.ai (AI) most recently known for one of its newest developments OpenAI’s ChatGPT, reported earnings and sent investors buying which led to a surge in the company’s stock price, up almost 28%.

The company reported Q3 EPS of ($0.06) vs Factset ($0.22) and revenues of $66.7M vs Factset $64.2. Not only did the company beat on Q3 earnings metrics but their Q4 and FY (Apr 2023) guidance garnered a crowd pleasing beat on consensus as well. Q4 revenues guided to $70-$72M vs Factset $69.9M while its FY 2023 revenues guided to $264-$266M vs Factset $261.3M. Operating income for both Q4 and FY 2023 also beat expectations.

“As we enter Q4 FY 23, we are seeing tailwinds from improved business optimism and increased interest in applying C3 AI solutions to address an increasing range of applications across a broad range of industries,” said Thomas M. Siebel, C3 AI CEO. “The overall business sentiment appears to be improving. This is a dramatic change from what we experienced in mid 2022.”