Cerebras Systems Q3 core revenue $230.9 million, above expectations

BlockBeats news, November 13: Cerebras Systems reported third-quarter core revenue of $230.9 million, versus analyst expectations of $214.7 million. Third-quarter core hardware revenue was $86 million, versus analyst expectations of $64.6 million. Third-quarter core cloud revenue was $144.9 million, versus analyst expectations of $149.8 million. Third-quarter gross margin was 20%, versus analyst expectations of 35.7%.

Cerebras Systems announced cloud agreements with three top hyperscalers. It raised its full-year guidance. It expects full-year core revenue of $940 million-$960 million, versus analyst expectations of $887.4 million. It expects fourth-quarter core revenue of $310 million-$330 million, versus analyst expectations of $271.2 million. It expects fourth-quarter core gross margin of 47%-49%, versus analyst expectations of 42%.