Cerebras Reports Earnings

Cerebras Systems’ stock bucked the chip-sector selloff in Tuesday’s regular session — but it was getting punished in after-hours trading, despite better-than-expected results and guidance in the AI-chip maker’s first earnings report as a public company.

Cerebras CBRS , which held its initial public offering in May, posted first-quarter core revenue of $191.3 million, up 92% from a year ago and ahead of the FactSet analyst consensus for $181.2 million.

The company uses “core financial results,” which it says “exclude the impact of amortization of customer warrants, data-center pass-through revenues and costs,” among other items.