C3.ai (AI) shares pull back after the company’s fiscal second quarter earning report released yesterday. The stock initially jumped in response to the quarterly results, which beat on the top and bottom lines but reversed direction. C3.ai founder and CEO Tom Siebel joins Morning Brief Co-Hosts Seana Smith and Brad Smith to discuss the print and what’s next for the artificial intelligence (AI) company. The CEO addresses the stock move, saying, “Markets kind of thrash around a little bit, and I think yesterday the stock was up huge… Bottom line, we had a great quarter, I think, [with] 29% year-over-year growth. We finished the quarter with almost three-quarters of $1 billion cash [and] announced a very, very important strategic alignment with Microsoft (MSFT).” He adds, “The stock will take care of itself. It’s a positive story.” Siebel explains C3.ai’s pivotal position in the enterprise AI landscape: “We have over 100 products in the space now. We’ve gone from [an] order of 100 salespeople in September to [an] order of tens of thousands of salespeople in November, all around the world, every vertical, every geography.” He notes, “This is huge. This is a growth accelerator, and, in the medium run, it will result in massive, I think, revenue growth and massive cash flow. So there’s nothing that’s not good about this.” Watch the video above for more on C3.ai’s partnerships with Microsoft and Baker Hughes (BKR), the CEO’s expectations for the incoming Trump administration, and more.
#youtube #news #stocks
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
source
