Corrected: BUZZ-Cerebras falls after Q2 results (August 12)
CORRECTED-BUZZ-Cerebras falls after Q2 results (August 12) Corrects August 12 buzz to remove reference to missed revenue estimates in headline and 2nd bullet following a revision of comparable revenue number by LSEG
** Shares of chip designer Cerebras Systems CBRS.O down 15.8% at $220.75 in extended trading
** Despite strong demand, CBRS remains under pressure to prove that its business can scale profitably amid intense competition
** Shares have gained more than 15% just this week on the back of strong AI infrastructure results
** Still, CBRS raises annual revenue and gross margin forecasts on strong demand for its chips
** Co expects 2026 adjusted revenue between $880 mln and $890 mln, higher than its previous forecast of $855 mln to $865 mln
** Forecasts annual adjusted gross margin at 41% to 43%, up from 38% to 41% projected earlier vs analysts estimate of 35.89%
** Stock has risen ~27%, through last close, from its May IPO price of $185
(Reporting by Katha Kalia in Bengaluru)
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