CoreWeave shares surge 18% after Q3 earnings beat estimates
CoreWeave reported Q3 revenue of $3.66-3.7 billion, beating expectations, and raised its 2026 revenue guidance. Shares jumped about 18% in after-hours trading, lifting Nasdaq futures. The company's debt stands at $47 billion.
Cloud computing company CoreWeave, a major player in the neo-cloud space, released third-quarter financial results that exceeded analyst expectations. The company reported a loss per share of 95 cents versus an expected loss of $1.16, and revenue of $3.66 billion compared to $3.55 billion – growth of 168% year-over-year. Additionally, CoreWeave raised its full-year 2026 revenue guidance to a range of $13–13.3 billion, above analyst forecasts. Following the report, the company's stock surged about 18% in after-hours trading, and Nasdaq futures climbed about 1.6%. CoreWeave, which has taken on massive debt of nearly $47 billion, has faced pressure recently due to rising US interest rates, and its stock had fallen about 40% in the past month. Competitor Nebius Group, whose stock also dropped about 40%, surged about 12% in after-hours trading on the back of the positive results. Both companies are dependent on Nvidia, which is facing a crisis following ties between CEO Jensen Huang and a person identified as a Chinese spy.