Cerebras Reports 92% Revenue Growth in Q1, Stock Falls 5% Despite Beat

According to its earnings report, Cerebras reported revenue increased 92% in the first quarter to $193.4 million, while net loss shrank to $14 million from $23.9 million a year earlier. The AI chipmaker's stock fell 5% to $226.72 in extended trading following the disclosure.

For the second quarter, Cerebras expects core revenue growth of 88% year-over-year to $914 million. Full-year core revenue guidance stands between $855.5 million and $865 million, representing 69% growth at the midpoint. The company went public on Nasdaq in May with an IPO pricing of $185.