— Shares plunged more than 14% after first-quarter revenue of $9.13 billion missed consensus estimates of $9.18 billion, according to LSEG. Adjusted earnings of $2.44 per share beat a consensus estimate of $2.38, but current-quarter guidance fell below estimates on both top and bottom lines., effective June 1. He will also be stepping down from the board of directors. Daniel Dines, former CEO of UiPath and current chief innovation officer, will return to the helm.
Management cited softening demand for luxury goods and a slowdown in Asia.— Shares of the AI software company climbed more than 8% after reporting quarterly results above estimates. C3.ai lost an adjusted 11 cents per sare on $86.6 million in revenue. Consensus estimates had called for a 30-cent loss on revenue of $84.4 million, according to LSEG. Full-year revenue forecasts also beat estimates.
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