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The company anticipates second-quarter fiscal 2024 revenues to be between $72 million and $76.5 million. Non-GAAP loss is anticipated between 27 cents and 40 cents per share.
The Zacks Consensus Estimate for revenues is pegged at $74.49 million, indicating an increase of 19.36% from the year-ago quarter’s reported figure.
The consensus mark for loss has been stable in the past 30 days at 19 cents per share. C3.ai had incurred a loss of 11 cents in the year-ago quarter.
The company beat the Zacks Consensus Estimate in the last four quarters, delivering an earnings surprise of 43.64% on average.
Let’s see how things have shaped up before the announcement.
Factors to Watch
C3.ai’s third-quarter performance is likely to have gained from a strong subscription-based business model and increased demand for its Enterprise AI software.
C3.ai is likely to have benefited from the increasing adoption of its services, including C3 Generative AI and predictive maintenance.
In the first quarter of fiscal 2024, C3.ai’s number of customers was 334. It is expected to have increased steadily in the to-be-reported quarter.
The company achieved major advancements in its Generative AI platform during the to-be-reported quarter, which improved the functionality and accessibility of its enterprise AI applications. This is expected to have benefited the top line.
Apart from tech and product capability, C3.ai is likely to have benefited from strong sales capabilities with its tech partners. In the to-be-reported quarter, partnerships with companies like Booz Allen Hamilton, Microsoft, Amazon Web Services (AWS) and Google Cloud are anticipated to have driven the company’s overall growth.
C3.ai’s second-quarter performance is likely to have benefited from a scalable business model for defense systems.
The trends are expected to have continued in the to-be-reported quarter.
Key Q3 Developments
The company recently announced the inclusion of asset monitoring and predictive maintenance software developed by Shell (SHEL - Free Report) in its C3 AI Reliability Application to help customers strengthen their operational efficiencies.
Shell and C3.ai collaborated to develop advanced models and application functions that predict maintenance needs for control valves and help their engineers and data scientists.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
C3.ai has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a couple of companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
Image: Bigstock
C3.ai (AI) Gears Up to Report Q2 Earnings: What's in the Cards?
C3.ai (AI - Free Report) is set to release its second-quarter fiscal 2024 results on Dec 6.
The company anticipates second-quarter fiscal 2024 revenues to be between $72 million and $76.5 million. Non-GAAP loss is anticipated between 27 cents and 40 cents per share.
The Zacks Consensus Estimate for revenues is pegged at $74.49 million, indicating an increase of 19.36% from the year-ago quarter’s reported figure.
The consensus mark for loss has been stable in the past 30 days at 19 cents per share. C3.ai had incurred a loss of 11 cents in the year-ago quarter.
C3.ai, Inc. Price and EPS Surprise
C3.ai, Inc. price-eps-surprise | C3.ai, Inc. Quote
The company beat the Zacks Consensus Estimate in the last four quarters, delivering an earnings surprise of 43.64% on average.
Let’s see how things have shaped up before the announcement.
Factors to Watch
C3.ai’s third-quarter performance is likely to have gained from a strong subscription-based business model and increased demand for its Enterprise AI software.
C3.ai is likely to have benefited from the increasing adoption of its services, including C3 Generative AI and predictive maintenance.
In the first quarter of fiscal 2024, C3.ai’s number of customers was 334. It is expected to have increased steadily in the to-be-reported quarter.
The company achieved major advancements in its Generative AI platform during the to-be-reported quarter, which improved the functionality and accessibility of its enterprise AI applications. This is expected to have benefited the top line.
Apart from tech and product capability, C3.ai is likely to have benefited from strong sales capabilities with its tech partners. In the to-be-reported quarter, partnerships with companies like Booz Allen Hamilton, Microsoft, Amazon Web Services (AWS) and Google Cloud are anticipated to have driven the company’s overall growth.
C3.ai’s second-quarter performance is likely to have benefited from a scalable business model for defense systems.
The trends are expected to have continued in the to-be-reported quarter.
Key Q3 Developments
The company recently announced the inclusion of asset monitoring and predictive maintenance software developed by Shell (SHEL - Free Report) in its C3 AI Reliability Application to help customers strengthen their operational efficiencies.
Shell and C3.ai collaborated to develop advanced models and application functions that predict maintenance needs for control valves and help their engineers and data scientists.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
C3.ai has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a couple of companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
Science Applications International (SAIC - Free Report) has an Earnings ESP of +3.01% and currently carries a Zacks Rank of 2. You can find the complete list of today’s Zacks #1 Rank stocks here.
Science Applications International is set to announce fourth-quarter and fiscal 2023 results on Dec 4. SAIC’s shares are up 8.1% year to date.
Adobe (ADBE - Free Report) has an Earnings ESP of +13.5% and carries a Zacks Rank of 2.
Adobe is set to announce fourth-quarter and fiscal 2023 results on Dec 13. Adobe’s shares are up 82% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.