CoreWeave (CRWV) stock surged more than 15% in after-hours trading Tuesday after the AI cloud provider reported Q2 results that beat analyst expectations on both the top and bottom lines.
CoreWeave, Inc. Class A Common Stock, CRWV
The stock had closed up 2.4% during regular hours, at $90.32, before the earnings release sent it to around $103.98 overnight.
Revenue for the quarter came in at $2.58 billion, edging past the $2.56 billion consensus estimate and marking 112% growth compared to the same period last year.
COREWEAVE $CRWV Q2’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $2.6B (Est. $2.56B) 🟢
🔹 Adj. EPS: -$1.14 (Est. -$1.20) 🟢
🔹 Adj. EBITDA: $1.5B (Est. $1.43B) 🟢
🔹 Revenue Backlog: ~$104BOther Q2 Metrics:
🔹 Adjusted EBITDA Margin: 59% (Est. 55.4%) 🟢
🔹 Operating Income: -$49M (Est.… pic.twitter.com/1V515h2Jof— Wall St Engine (@wallstengine) August 11, 2026
Loss per share landed at -$1.14, well ahead of the -$1.41 Wall Street had penciled in.
Adjusted operating income hit $128 million, roughly double the $66 million consensus estimate and up sharply from $21 million last quarter.
CEO Michael Intrator said the company reached “an important inflection point” as its scale began to translate into operating leverage. He also pointed to broadening enterprise adoption as a driver of demand.
CoreWeave’s revenue backlog climbed to $130 billion, up from $99 billion at the end of Q1. The company noted this figure does not include $25 billion in Q3 commitments, which would push the total closer to $155 billion.
The backlog is made up largely of AI cloud contracts from Microsoft, Meta, OpenAI, and others.
Capital expenditure cash purchases reached $6.4 billion in Q2, with an additional roughly $5 billion in finance lease assets entering the balance sheet. Total property, plant and equipment increased by $11.7 billion in the quarter.
Over the last 12 months, the company spent $20.6 billion on capex. Full-year spending could reach $39 billion, raised from a prior projection of $35 billion.
The company had $35 billion in debt on its balance sheet at the end of June. Depreciation and interest combined accounted for 79% of revenue in Q2, up 146% from last year.
Intrator flagged Nvidia’s $500 billion investment platform as a potential tool to bring down CoreWeave’s cost of capital over time.
Nvidia remains a close partner, holding a 9% stake in CoreWeave and committing $6.3 billion to backstop idle server capacity in CoreWeave data centers.
But competition is growing. SpaceX has started renting compute capacity to Anthropic and Google. Meta is also weighing whether to lease out portions of its own capacity.
CoreWeave raised its full-year revenue and adjusted operating income guidance alongside the Q2 print.
Analysts do not expect adjusted pretax income to turn positive until 2028.
Since insiders were first allowed to sell roughly a year ago, CRWV stock is down 9%. The most recent insider sale came last week, when CEO Intrator sold 307,692 shares at an average price of $91.80.
The post CoreWeave (CRWV) Stock Jumps 15% as Q2 Earnings Beat Wall Street on Revenue and Losses appeared first on CoinCentral.
