A Crowded Day Of Tech Earnings
It was a massive day of tech earnings, but we’ll do our best to recap some of the biggest movers.
First up is C3.ai, which failed to live up to the recent hype. The company’s fourth-quarter adjusted loss per share of $0.55 on revenues of $72.4 million topped the $0.13 on $71.3 million in revenue consensus view. However, its fiscal 2024 revenue guidance of $295 to $320 million was shy of analysts’ $317 million estimate. While the results were positive, if your shares are up over 200% this year, you must beat on all metrics to maintain your momentum…, especially in this market. Unfortunately, the company didn’t, so $AI shares are falling 16% after hours following a 9% regular-session decline. 🤖