C3.ai (AI, Financial) saw a 6.19% increase in pre-market trading, reaching $44.26. The company reported a 29% year-over-year revenue growth in the second fiscal quarter, totaling $94.3 million, surpassing the market expectation of $91 million. This marks the seventh consecutive quarter of revenue growth. The company posted a loss of 6 cents per share, better than the anticipated loss of 16 cents.
For the third fiscal quarter, C3.ai forecasts revenue between $95.5 million and $100.5 million, aligning with analysts' average estimate of $97.6 million. Additionally, C3.ai has formed a global strategic alliance with Microsoft, allowing its software solutions to be sold through Microsoft's Azure sales team, with Microsoft sales personnel earning commissions. Microsoft will also subsidize C3.ai's pilot projects during the agreement period.
