C3.ai
AI
is set to report third-quarter fiscal 2022 results on Mar 2.
For the quarter, C3.ai expects revenues between $66 million and $68 million. The Zacks Consensus Estimate for revenues is currently pegged at $67.3 million.
For the quarter, the consensus mark for loss has remained steady at 27 cents per share in the past 30 days.
Let’s see how things have shaped up for C3.ai for the upcoming announcement.
Factors to Consider
C3.ai’s fiscal third-quarter performance is expected to reflect strong demand for its Enterprise AI software, driven by accelerated digital modernization across major industries in response to changes in the economic environment.
C3.ai is benefiting from the increasing adoption of its services, including C3 AI Suite, C3 AI Ex Machina and C3 AI CRM.
Partnerships with the likes of
Snowflake
SNOW
,
Alphabet
GOOGL
and NCS Pte Limited is expected to have driven the top line in the to-be-reported quarter.
C3.ai’s partnership with the data cloud company, Snowflake resulted in the integration of the latter’s unique architecture that enables customers to run their data platforms seamlessly across multiple clouds and regions at scale with C3.ai’s robust enterprise AI development suite and its family of industry-specific enterprise AI applications.
C3.ai’s partnership with Alphabet’s Google Cloud will help organizations across multiple industries accelerate their application of artificial intelligence (AI) solutions.
Per the agreement, the companies’ global sales team will co-sell C3 ai’s enterprise AI applications, running on Google Cloud.
With NCS, C3.ai entered into a strategic partnership, focused on delivering enterprise AI solutions to clients in Southeast Asia (SEA) and Australia/New Zealand (ANZ) across multiple industries, including telecommunications, government, financial services, transportation and more.
Q3 Highlights
In the to-be-reported quarter, C3.ai established a new five-year Production-Other Transaction Agreement with the U.S Department of Defense (DoD). Per the agreement, any DoD has the right to acquire C3.ai products and services for modeling and simulation.
In November 2021, C3.ai and Shell announced that Kongsberg Digital and MathWorks would join the Open AI Energy Initiative (OAI), an open ecosystem of artificial intelligence (AI)-based solutions for the energy and process industries.
As Kongsberg Digital and MathWorks are the first independent vendors to join the OAI, they will be offering solutions that complement current offerings and help transform the energy industry.
The OAI was launched in February 2021 by C3.ai, Shell, Microsoft and
Baker Hughes
BKR
.
Previously, this Zacks Rank #3 (Hold) company and Baker Hughes had announced the successful deployment of the BHC3 Production Optimization enterprise AI application at an Alberta, Canada-based energy company — MEG Energy — to improve operational efficiency, productivity and better visualize risk across the company’s upstream production operations.
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