Daily Market Updates: Cerebras shares drop 14% after second-quarter results and IPO run

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Cerebras shares drop 14% after second-quarter results and IPO run

The stock fell sharply after its second earnings report, despite reporting better-than-expected second-quarter revenue and lifting full-year guidance.

Reported · Written up by our desk · Previews

Cerebras Systems shares plunged about 14% after the company released its second earnings report following its IPO, CNBC Markets reported.

The outlet said Cerebras posted better-than-expected second-quarter revenue and raised its full-year guidance.

Despite the upside in the revenue and outlook, the market reaction pushed the stock lower soon after the results were released, according to CNBC.

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Sources

CNBC MarketsCerebras stock plunges 14% after second earnings report following IPO

CNBC WorldCerebras stock plunges 14% after second earnings report following IPO

CNBC EarningsCerebras stock plunges 14% after second earnings report following IPO

Earnings

Cerebras shares drop 14% after second-quarter results and IPO run

More like this

Sources

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