C3.ai's Strong Earnings Report Sparks Stock Surge

C3.ai reported strong quarterly results, exceeding expectations and narrowing its full-year revenue forecast range, leading to a more than 14% increase in its shares. The company announced Hitesh Lath as its new CFO, effective March 1, replacing Juho Parkkinen, who will remain as vice president of finance. C3.ai now anticipates 2024 revenue between $306 million and $310 million, above analysts' estimates, and expects fourth-quarter revenue between $82 million and $86 million. The demand for generative artificial intelligence capabilities in the IT industry has been driving growth for companies like C3.ai, which is an AI-based software maker.