Cerebras stock falls nearly 20% after Q1 earnings beat overshadowed by narrower margin forecast
By
Aisha Malik
Summary
Cerebras Systems stock dropped nearly 20% after its first earnings report since going public. Despite beating Q1 earnings expectations, the AI chipmaker forecast a narrower full-year gross margin of 38%-41%, down from 47% in Q1. The stock hit a new low, nearly falling to its IPO price. CEO Andrew Feldman claimed investors misunderstood the margin guidance.
Source
bskyCerebras stock falls nearly 20% after Q1 earnings beat overshadowed by narrower margin forecasttechcrunch.comKey quotes
· 1 pulledCerebras CEO Andrew Feldman told CNBC that investors had misunderstood the company's margin guidance
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