Premarket Movers | Cerebras Systems Slides 11% Despite Strong Revenue Growth As Weak Margin Outlook Drags

Tiger Newspress

06/24

On Wednesday, Cerebras Systems Systems shares fell 11% in pre-market trading. The company reported a 94% year-over-year increase in first-quarter revenue and issued revenue guidance that exceeded market expectations. However, its projected second-quarter core gross margin of 36% to 38% came in well below that of industry leaders such as NVIDIA, raising investor concerns about the company's profitability.

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The company reported a 94% year-over-year increase in first-quarter revenue and issued revenue guidance that exceeded market expectations. 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