GoKawiilCoreWeave CEO Michael Intrator appears after the company's initial public offering at the Nasdaq MarketSite in New York on March 28, 2025.
CoreWeave shares jumped 14% in extended trading on Tuesday after the AI infrastructure provider reported results than topped Wall Street expectations.
Here's how the company did relative to LSEG consensus:
Earnings per share: Loss of $1.03 adjusted vs. loss of $1.20 expected
Loss of $1.03 adjusted vs. loss of $1.20 expected Revenue: $2.58 billion vs. $2.56 billion expected
Revenue climbed 112% during the quarter from a year earlier, CoreWeave said in a statement. Net loss of $626 million increased from $290 million, or 60 cents per share, a year ago.
The company's revenue backlog now stands at $104 billion, a figure that excludes over $25 billion in new commitments from the third quarter, and it boasted 1.5 gigawatts of active power.
With respect to guidance, management called for $3.4 billion to $3.6 billion in third-quarter revenue, which would imply 158% growth at the middle of the range. Analysts polled by LSEG were looking for $3.43 billion.
For 2026, CoreWeave now sees $960 million to $1.15 billion in adjusted operating income on $12.4 billion to $13.2 billion in revenue. Analysts surveyed by LSEG had expected $12.63 billion in full-year revenue. In May it was projecting $900 million to $1.1 billion in adjusted operating income on $12 billion to $13 billion in revenue.
The company called for over 1.85 gigawatts in active power by year end, with $35 billion to $39 billion in annual capital expenditures. The forecast as of May included capital spending between $31 billion and $35 billion.
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