By Stephen Nakrosis

Shares of software program firm C3.ai, Inc. have been buying and selling decrease in Wednesday’s after-hours market following the corporate’s launch of first-quarter monetary outcomes and its reducing some fiscal yr 2023 steering.
At 5:50 p.m. EDT, the corporate’s shares had fallen 16.67% to commerce at $15 every. Quantity on the time topped 1 million shares. The inventory completed the day’s common session with a 2.23% loss, closing at $18 per share.

After the bell, the corporate reported a first-quarter loss per share of 67 cents on income of $65.three million. Within the year-ago interval, the corporate reported a loss per share of 37 cents on income of $52.four million.
The corporate stated it was anticipating second-quarter income in a variety of $60 million to $62 million. The corporate additionally stated it was anticipating fiscal yr 2023 income in a variety of $255 million to $270 million, beneath earlier steering of a variety between $308 million and $316 million.
The corporate additionally stated was transitioning to a consumption-based pricing mannequin to gasoline progress. Thomas M. Siebel, the corporate’s chief government, stated “the financial downturn is actual. Our clients are scrutinizing huge offers as by no means earlier than, which additionally makes this a sensible time to launch consumption pricing.”
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com