(Reuters) – C3.ai (NYSE:) raised its income forecast for fiscal 2025 on Monday, helped by robust demand for the corporate's enterprise synthetic intelligence software program, as Companies are on the lookout for instruments to assist them streamline their workflow.
The corporate now expects income between $378 million and $398 million, up from a earlier forecast of $370 million to $395 million.
Shares of the corporate rose 14.8% in prolonged buying and selling.
The Redwood (NYSE:), a California-based firm, supplies software program that allows corporations to create and develop AI purposes for varied industries, together with vitality, manufacturing, monetary providers and healthcare.
The corporate's shares are up greater than 45% up to now this yr, thanks partially to its expanded partnership with cloud heavyweight Microsoft (NASDAQ:), below which C3.ai will develop into the “most popular” supplier of AI utility software program on Microsoft's Azure cloud.
C3.ai reported second-quarter income of $94.3 million, in comparison with $91 million estimated by analysts, based on information compiled by LSEG.
On an adjusted foundation, the corporate reported a lack of 6 cents, in comparison with analysts' expectations of a lack of 16 cents.
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