RTTNews | Dec 2, 2021 10:02AM EST

10:01 Thursday, December 2, 2021 (RTTNews.com) - Shares of AI software company C3.ai, Inc. (AI) are slipping 12 percent on Thursday's trading as the company reported wider loss in the second quarter of 2022, affected by higher operating expenses.

The company posted second-quarter net loss of $56.7 million or $0.55 per share, wider than net loss of $14.9 million or $0.39 per share in the same period last year.

Excluding items, loss was $23.6 million or $0.23 per share in the second quarter, compared to loss of $9.7 million or $0.26 per share in the year-ago quarter.

On average, 10 analysts polled by Thomson Reuters expected the company to post loss of $0.28 per share in the three-month period.

Currently at $29.95, the stock has traded between $29.79 and $183.90 during the past 52 weeks.

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