On November 13, Cerebras Systems rose 13.34% in After-Hours Trading, trading near $110.28/share, with turnover of $63.739 million.

The move followed the company’s third-quarter results, which topped market expectations, alongside an increase to its full-year adjusted revenue outlook.

Cerebras Systems reported third-quarter adjusted revenue of $230.9 million, above the roughly $214.7 million consensus, and raised its full-year adjusted revenue forecast to $940 million-$960 million from $880 million-$890 million. The company also said core cloud services and related revenue climbed to $144.9 million, up more than threefold, remaining performance obligations reached $26.1 billion as of September 30, and contracted data center capacity totaled 700 megawatts. It also guided full-year core gross margin to 42%-44%, up from the prior 41%-43%, although quarterly EPS was negative $0.67.

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