In line with its “Beyond Carrier” growth strategy, SoftBank is expanding beyond its core telecommunications business to create new businesses in a wide range of industries, and it is promoting digital transformation (DX) across different industry sectors. SoftBank aims to acquire a total 2 million 1NCE IoT Flat Rate connections in APAC and other regions within the 2025 fiscal year, which ends on March 31, 2026. In this sales expansion that spans 19 countries and regions, including Japan, SoftBank will focus on marketing IoT services, mainly the “1NCE IoT Flat Rate,” an affordable global IoT connectivity service from German company 1NCE GmbH, to enterprise customers. (“SoftBank”) today announced that from October 2023 it will launch a full-fledged expansion of its global IoT business in the Asia-Pacific (APAC) region. SoftBank to market 1NCE's affordable global IoT connectivity services in 19 Asia-Pacific markets The Motley Fool has a disclosure policy.SoftBank Corp. The Motley Fool has positions in and recommends Bank of America. Jeremy Bowman has positions in Bank of America. *Stock Advisor returns as of October 2, 2023īank of America is an advertising partner of The Ascent, a Motley Fool company. and C3.ai wasn't one of them! That's right - they think these 10 stocks are even better buys. They just revealed what they believe are the ten best stocks for investors to buy right now. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* When our analyst team has a stock tip, it can pay to listen. Investors should avoid the AI stock until revenue growth significantly accelerates or it turns profitable. Still, a healthy dose of skepticism seems warranted, especially as revenue growth is modest and share-based compensation is high. It also now sees an adjusted operating loss of $70 million to $100 million.Įxplaining the change in guidance, CEO Thomas Siebel said, "The market opportunity is immediate, and we intend to seize it." Looking ahead, the company expects only modest revenue growth for fiscal 2024, representing 15% growth at the midpoint. Shares rebounded over the last few days of the month as tech stocks bounced back on no specific news. Later in the month, the stock fell again after the Federal Reserve said interest rates would remain elevated through the next couple of years, which is a headwind on growth stocks like C3.ai. The analyst response to the report was tepid as Bank of America said that the company doesn't seem to be benefiting from AI tailwinds, and Deutsche Bank said the results were not enough to tamp down investor skepticism. On an adjusted basis, it posted a loss of $0.09 per share, which was better than estimates at $0.17 per share. Revenue in the quarter rose a modest 11% to $72.4 million, beating the consensus at $71.6 million, and its generally accepted accounting principles ( GAAP) net loss was nearly as high at $64.4 million. 7 after the company topped headline consensus figures but said it would no longer turn a profit in the current fiscal year as it continues to ramp up investment in what it sees as the large artificial intelligence (AI) opportunity in front of it. As you can see from the chart below, the stock fell sharply on the earnings report at the beginning of the month and continued to slide from there. Shares of C3.ai (NYSE: AI) took a dive last month after the "AI for the enterprise" company posted disappointing results in its fiscal first-quarter earnings report and dialed back expectations to post an adjusted profit by the end of fiscal 2024.Īdditionally, the Federal Reserve's forecast to keep interest rates higher for longer pushed the stock lower toward the end of the month.Īccording to data from S&P Global Market Intelligence, the stock finished the month down 18%.
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