Cerebras Systems Inc (NASDAQ:CBRS) on Wednesday reported worse-than-expected quarterly sales.
Cerebras Systems reported GAAP quarterly losses of $2.98 per share, according to Benzinga Pro data. Quarterly revenue came in at $180.11 million which missed the Street estimate of $194.2 million by 7.26%.
"This was an outstanding quarter for Cerebras. Core revenue more than doubled to $210 million, and our cloud business nearly quadrupled year-over-year," said Andrew Feldman, Cerebras co-founder and CEO.
Cerebras Systems shares dipped 17.6% to $215.98 in pre-market trading.
These analysts made changes to their price targets on Cerebras Systems following earnings announcement.
