Buzz-Cerebras falls after Q2 revenue misses estimates
CBRS•Shares fall after revenue misses estimates
** Shares of chip designer Cerebras Systems CBRS.O down 15.8% at $220.75 in extended trading
** Co reports 74.3% rise in Q2 revenue to $180.11 million, while analysts expected $194.23 million, according to data compiled by LSEG
** Despite strong demand, CBRS remains under pressure to prove that its business can scale profitably amid intense competition
** Shares have gained more than 15% just this week on the back of strong AI infrastructure results
Company raises annual revenue and margin forecasts
** Still, CBRS raises annual revenue and gross margin forecasts on strong demand for its chips
** Co expects 2026 adjusted revenue between $880 mln and $890 mln, higher than its previous forecast of $855 mln to $865 mln
** Forecasts annual adjusted gross margin at 41% to 43%, up from 38% to 41% projected earlier vs analysts estimate of 35.89%
** Stock has risen ~27%, through last close, from its May IPO price of $185
