Cerebras Jumps 18% After $230.9 Million Revenue Beat and Microsoft Deal
Updated
Updated · CNBC · Nov 12
Cerebras Jumps 18% After $230.9 Million Revenue Beat and Microsoft Deal
3 articles · Updated · CNBC · Nov 12
Summary
$230.9 million in core revenue, up 70% from a year earlier and above the $214.7 million consensus, sent Cerebras shares up 18% in extended trading after earnings.
Q4 guidance also topped expectations: Cerebras forecast $310 million to $330 million in revenue and a 47% to 49% core gross margin, versus LSEG estimates of $271 million and 42.1%.
Microsoft signed a deal with Cerebras in October, with revenue expected to start showing up in the first quarter of 2027, adding to existing cloud-provider ties with Amazon and Oracle.
Andrew Feldman said long GPU lead times and higher costs are creating an opening for Cerebras as it tries to challenge Nvidia in AI chips, while the company weighs financing options to meet rising demand.
Cerebras still expects 2027 revenue to triple to about $2.85 billion, slightly below the $2.92 billion analyst view, after the stock had fallen roughly 47% since its May Nasdaq debut.