C3.ai’s Revenue Projections Fall Short. The AI Company’s Stock Swoons.

Updated June 2, 2022 8:39 am ET / Original June 1, 2022 8:08 pm ET

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Shares of the artificial intelligence software company C3.ai were trading sharply lower after the company provided disappointing guidance for the July quarter and the full fiscal year ending in April 2023.

For the quarter ended April 30, C3.ai (ticker: AI) posted revenue of $72.3 million, up 38% from a year ago, and just ahead of the Street consensus forecast at $71.3 million. That boosted full-year revenue to $252.8 million, also up 38%, and a little above the company’s guidance range of $251 million to $252 million.

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