C3.ai Reports Sales Far Short of Estimates, Shakes Up Management

C3.ai Inc. released preliminary first-quarter revenue that fell far short of analysts’ estimates and restructured its sales management team. The shares fell about 10% in extended trading.

Sales are expected to be about $70.3 million in the period ended July 31, the software company said Friday in a statement. Analysts, on average, estimated $104.3 million.