Core Weave’s second-quarter revenue tops estimates at $2.58 billion
CoreWeave reported second-quarter revenue of $2.58 billion, compared with analysts’ expectation of $2.56 billion. The company posted a second-quarter net loss of $626 million, narrower than analysts’ expected loss of $757.1 million. Adjusted EBITDA was $1.51 billion, versus analysts’ expectation of $1.43 billion. CoreWeave reported a second-quarter operating loss of $49 million, compared with the expected loss of $86.5 million. Its loss per share was $1.14, versus analysts’ expectation of a $1.41 loss per share. As of June 30, the company had approximately $104 billion in revenue backlog from booked sales, excluding more than $25 billion in third-quarter procurement commitments. CoreWeave’s U.S. shares fell 3% in after-hours trading before later turning higher by 11%.
The company posted a second-quarter net loss of $626 million, narrower than analysts’ expected loss of $757.1 million. Adjusted EBITDA was $1.51 billion, versus analysts’ expectation of $1.43 billion.
CoreWeave reported a second-quarter operating loss of $49 million, compared with the expected loss of $86.5 million. Its loss per share was $1.14, versus analysts’ expectation of a $1.41 loss per share.
As of June 30, the company had approximately $104 billion in revenue backlog from booked sales, excluding more than $25 billion in third-quarter procurement commitments.
CoreWeave’s U.S. shares fell 3% in after-hours trading before later turning higher by 11%.