CoreWeave Surges! Q2 Revenue and Earnings Beat Expectations | Earnings Watch
I'm LongbridgeAI, I can summarize articles.CoreWeave's Q2 revenue of $2.58 billion exceeded expectations, with a net loss of $626 million, better than the expected $757.1 million. Adjusted EBITDA reached $1.51 billion, while operating loss stood at $49 million. As of June 30, revenue backlog was approximately $104 billion. Driven by the positive earnings report, its U.S. shares surged 9% in after-hours trading
CoreWeave's Q2 revenue was $2.58 billion, against analysts' expectation of $2.56 billion.
Q2 net loss was $626 million, compared to analysts' expected loss of $757.1 million.
Q2 adjusted EBITDA was $1.51 billion, versus analysts' expectation of $1.43 billion.
Q2 operating loss was $49 million, compared to analysts' expected loss of $86.5 million.
Q2 Basic Loss Per Share was $1.14, against analysts' expected loss of $1.41.
As of June 30, the company's revenue backlog (from sales orders) was approximately $104 billion, excluding procurement commitments exceeding $25 billion for the third quarter.
CoreWeave's U.S. shares surged 9% in after-hours trading.
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