C3.ai is scheduled to report fiscal second-quarter results after the market closes on Wednesday, when the company will look to extend its streak of earnings beats even as it likely swings to a loss.
The enterprise artificial intelligence software company is expected to post revenue of $74.3 million, 19% higher year-over-year, and a loss of $0.18 per share, compared to a profit of $0.11 per share a year earlier.
C3.ai signaled that an adjusted loss was coming earlier this year. On September 7, shares of the company sank nearly 17% after it said it no longer expects to achieve adjusted quarterly profitability by the end of the fiscal year, instead opting to invest in its generative AI solutions.
C3.ai also said it expects to report a fiscal 2024 loss of $70 to $100 million, compared to its earlier projection of a loss between $50 and $75 million.
Shares of C3.ai traded 2.4% lower Monday afternoon at $30.14.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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