Daily Scoop🍨: C3.ai (AI) and Nvidia (NVDA) Post Incredible Earnings Results 🚀🎉💪
Nvidia (Nvidia) and another AI Software company C3.ai, Inc. posted incredible earnings results which make their Stocks the darlings of the market.
C3.ai, Inc. stock was rising after the enterprise artificial intelligence software maker reported earnings that beat analysts expectations.
The company reported a loss of 16 cents a share, beating forecasts for a loss of 20 cents a share, on sales of $108.7 million, which was slightly ahead of expectations for $107.8 million.
“This was a momentum-building year for C3 AI, achieving 25% revenue growth year-over-year,” CEO Thomas Siebel said in a release accompanying the report. For the full fiscal year ending in April, revenue was $389.1 million, up 25% from the prior year. Losses per share were 41 cents.
Shares of the artificial-intelligence software firm—which specializes in subscription-based applications used by everyone from the Department of Defense to Coca-Cola—rose 12% in after-hours trading to around $26 per share after the report. The S&P 500 and Dow Jones Industrial Average both fell less than 1% in regular trading.
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