CoreWeave Q2 Earnings: Revenue Beat, EPS Miss, 'Continued Momentum' Driven By 'Unprecedented' AI Demand

Benzinga

CoreWeave posted second-quarter revenue of $1.21 billion, topping analyst estimates of $1.08 billion, according to data from Benzinga Pro. The company reported an adjusted loss of 27 cents per share, missing expectations for a 17-cent loss. CoreWeave has operated data centers in the U.S. and Europe since 2017 and went public on the Nasdaq earlier this year at $40 per share. The company supplies Nvidia GPUs to major technology and AI-focused firms. Total revenue rose over 300% year-over-year, and the company ended the quarter with a $30.1 billion revenue backlog. CEO Michael Intrator said the strong second-quarter results reflect broad business momentum and rapid scaling to meet unprecedented AI demand. Shares rose 130% in the three months since its IPO. The stock fell 5.92% in after-hours trading to, according to Benzinga Pro.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02CoreWeed posted second quarter revenue of $1.21 billion,

00:05topping analysts' estimates of $1.08 billion, according to data from Benzinga Pro.

00:09The company reported an adjusted loss of $0.27 per share,

00:12missing expectations for a $0.17 loss.

00:15CoreWeed has operated data centers in the U.S. and Europe since 2017

00:18and went public on the NASDAQ earlier this year at $40 per share.

00:22The company supplies NVIDIA and GPUs to major technology and AI-focused firms.

00:25Total revenue rose over 300% year-over-year,

00:28and the company ended the quarter with a $30.1 billion revenue backlog.

00:32CEO Michael and Trader said the strong second quarter results

00:35look like broad business momentum and rapid scaling to meet unprecedented AI demand.

00:40Shares rose 130% in the three months since its IPO.

00:43The stock fell 5.92% in after-hours trading Tuesday, according to Benzinga Pro.

00:48For all things money, visit Benzinga.com.

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