Cerebras Drops About 17% After-Hours Despite Strong Results, Raised Guidance

CBRS Cerebras Systems Inc

$101.19 +8.04%

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1. 1Cerebras Systems (CBRS) exceeded Wall Street estimates across several metrics in its second-quarter results, but the stock fell about 17% after-hours.
2. 2Core revenue of $210 million and an adjusted loss per share of 5 cents topped expectations, and the company raised its full-year core revenue outlook to $880 million–$890 million.
3. 3The company swung to a GAAP net loss of $450.5 million, which it attributed primarily to stock-based compensation expense of $386.6 million.

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