C3.Ai Inc (NYSE:AI) shares are trading lower Thursday on the heels of the company’s first-quarter financial results. Multiple analysts lowered price targets on the AI stock following the report.
What Happened: C3.ai reported first-quarter revenue of $87.21 million, beating the consensus estimate of $86.94 million, according to Benzinga Pro. The company reported an adjusted loss of 5 cents per share, beating estimates for a loss of 13 cents per share.
Total revenue was up 21% year-over-year. Subscription revenue was up 20% year-over-year to $73.5 million. Net cash from operations totaled $8 million in the quarter and free cash flow came in at $7.1 million.
C3.ai ...
