Cerebras Systems Inc. (NASDAQ:CBRS) posted its second-quarter results after Wednesday’s closing bell, missing analyst estimates on the top and bottom lines.
Here’s a look at the details inside the report.
- CBRS stock is moving. Watch the price action here.
Cerebras Q2 Details
Cerebras Systems reported GAAP quarterly losses of $2.98 per share, according to Benzinga Pro data.
Quarterly revenue came in at $180.11 million which missed the Street estimate of $194.2 million by 7.26%.
“This was an outstanding quarter for Cerebras. Core revenue more than doubled to $210 million, and our cloud business nearly quadrupled year-over-year,” said Andrew Feldman, Cerebras co-founder and CEO.
“Speed changes what AI can do. It makes AI more useful, more productive, and opens entirely new markets. As a result, the demand for fast inference is enormous and Cerebras is scaling to meet it, securing more data center capacity, expanding manufacturing, and growing with customers and partners including OpenAI, AWS, AMD, and CrowdStrike,” Feldman added.
CBRS Stock Price Activity: According to data from Benzinga Pro, Cerebras stock was down 9.26% to $238.96 in Wednesday’s extended trading.
Photo: Shutterstock
