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Cerebras Shares Drop Following Second Quarter Loss

morning · · thread: Oil Prices Drop as US and Iran Pause Military Hostilities

2 sources across 2 countries · Brazil · United Kingdom

Who reported this

  • CNN Brasil Brazil · Centre · Rubens Menin (MRV)
  • Reuters United Kingdom · Centre · Thomson Reuters Corporation

What the colours mean

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  • Centre-left
  • Centre
  • Centre-right
  • Right
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Shares of AI chip manufacturer Cerebras fell between 14.68% and 16% in after hours trading in New York after the company reported a second quarter net loss of $450.5 million. This represents a loss of $2.98 per share, a significant shift from the $309.5 million net profit recorded during the same period last year. The company reported an adjusted operational loss of $34 million, which was lower than the $63 million predicted by Wall Street and an improvement over the $44 million loss from the previous year. Analysts expect the adjusted operational result to become positive next year.

Cerebras increased its full year guidance with core revenue reaching $210 million. This figure exceeds the $191 million forecast and is double the revenue from the previous year. The company uses a non conventional revenue metric because sales figures are affected by two particularities outside of strict operations. Cerebras continues to compete in the AI chip market against leader Nvidia and has recently established agreements with Amazon and Advanced Micro Devices (AMD).

How each side framed it

Centre
Outlets with a center lean focused on the financial data and the market reaction, with one emphasizing the specific loss figures and the other highlighting the investor disappointment.

Sources

100% of the statements in this article were traced back to the source articles listed above.