C3.ai, Inc. (NYSE:AI) shares tanked in Wednesday’s extended trading after the company released its third-quarter earnings report, missing estimates and slashing its fiscal 2026 revenue guidance.
Here’s a look at the details from the report
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The Details: C3 AI reported quarterly losses of 40 cents per share, which missed the consensus estimate for losses of 29 cents, according to data from Benzinga Pro.
Quarterly revenue came in at $53.26 million, which missed the Street estimate of $75.616 million by more than 29% and was down from $98.78 million in the same period last year.
The company also announced a restructuring plan and workforce reductions.
“I joined C3 AI six months ago and I did so with a clear conviction: this company is uniquely positioned to win in Enterprise AI. That conviction has been reinforced through extensive engagement with customers, prospects, partners and investors,” said Stephen Ehikian, CEO, C3 AI.
“However, it was clear to me that we were not organized appropriately,” Ehikian added.
Outlook: C3 AI slashed its fiscal 2026 revenue outlook from $447.5 million to $484.5 million to a new range of $246.7 million to $250.7 million.
AI Stock Price: According to data from Benzinga Pro, C3 AI stock fell 19.30% to $8.32 in Wednesday’s extended trading.
Photo: Shutterstock
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