CoreWeave reported better-than-expected revenue results and a 60-cent adjusted earnings per share loss for Q2, beating Wall Street's consensus estimate of a 23-cent loss. Despite this, the company's shares are falling after the earnings report.
CoreWeave (CRWV), a cloud computing company specializing in AI infrastructure, reported its Q2 earnings after the market closed on August 12. The company exceeded Wall Street's expectations, reporting better-than-expected revenue and a 60-cent adjusted earnings per share (EPS) loss, compared to the consensus estimate of a 23-cent loss per share [2].
The company's revenue for the second quarter was $1.08 billion, with analysts expecting $1.08 billion [2]. CoreWeave's growth is driven by strategic moves, including a five-year, $11.9 billion deal with OpenAI for AI data centers and the acquisition of Core Scientific [2]. However, the company's stock has experienced significant volatility, jumping 225% in 2025 but selling off in June after announcing the Core Scientific deal [1].
Despite the positive earnings report, CoreWeave's shares are falling after the earnings release. The company's stock has been volatile, and the expiration of the IPO lockup period, which frees up 83% of Class A shares, is expected to increase the stock's float and potentially impact its price [1]. Analysts remain cautious about the company's high valuation, elevated debt levels, and reliance on Microsoft (MSFT) as its largest customer [2].
The upcoming earnings report will be crucial in determining whether CoreWeave can justify its lofty market expectations and cement its position as a leader in the AI cloud infrastructure space. Investors and analysts will closely watch the company's financial performance and the impact of the IPO lockup expiration on its stock price.
References:
[1] https://www.investors.com/news/technology/coreweave-stock-coreweave-ipo-lockup-expiration-core-scientific/
[2] https://theoutpost.ai/news-story/core-weave-s-q2-earnings-anticipation-ai-driven-growth-and-market-expectations-18938/
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