🔴 Cerebras Systems is trading 18% down today in pre-market after a much wider-than-expected adjusted loss

Cerebras Systems is trading 17.96% down now at $215 after investors focused on a GAAP revenue miss, a much wider-than-expected adjusted loss, and weak 14% GAAP gross margin.

• Core revenue reached $209.9 million, while adjusted EPS was -$2.98 versus an expected -$0.18.
• Strong core revenue and raised guidance were outweighed by the earnings-driven reaction despite favorable semiconductor-sector sentiment.
• Reuters reported shares fell more than 14% in extended trading after rising 11.6% during the August 12 regular session.