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C3.ai's revenue for the first fiscal quarter was $70.30 million, while analysts expected $104.2 million.
The adjusted loss per share for the first fiscal quarter was $0.37, compared to analysts' expectations of a loss of $0.20.
Stephen Ehikian has been appointed as the new CEO, and the full-year performance guidance has been withdrawn.
Guidance for the third fiscal quarter and the full year will be disclosed when the performance report for the second fiscal quarter is released.
Revenue for the second fiscal quarter is expected to be between $72 million and $80 million, while analysts expect $100.5 million.
C3.ai's stock fell 12% in after-hours trading
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