Cerebras surges 11% after beating on quarterly revenue and announcing Microsoft deal

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Cerebras Systems reported better-than-expected revenue and quarterly guidance in its earnings report on Thursday, and touted a new deal with Microsoft . The stock soared 11% in extended trading. Here's how the company performed relative to LSEG consensus: Cerebras' core revenue grew 70% from $135.7 million, compared with 103% growth in the second quarter, according to a statement . "I think there is opportunity created by, particularly on the hardware side, the sale of hardware, where long lead times in GPUs and more expense creates opportunity for us," Cerebras CEO Andrew Feldman told CNBC in an interview, referring to graphics processing units.