CoreWeave reports third-quarter results: revenue rose to $3.66 billion, while net loss reached $709 million. The stock on Nasdaq gained up to 8% after the close of the main session.
CoreWeave (Nasdaq: CRWV) is an American data center operator. The company leases out computing capacity for artificial intelligence workloads.
For the trader, what matters is that the bulk of the stock's gain occurred outside regular trading hours.
What did the report show?
- $3,661 million - quarterly revenue versus $1,365 million a year earlier, growth of 168%
- $379 million - adjusted operating income at a 10% margin
- $1.27 - loss per share, versus $1.55 expected
Ahead of plan. The company achieved double-digit margin a quarter earlier than it had promised.
Why did the loss grow?
Interest on debt. Net interest expense nearly tripled: $310 million -> $846 million for the quarter.
- Expense forecast. For the fourth quarter, $1.05-1.15 billion in interest payments is already projected.
- New debt. $4.2 billion in convertible bonds was raised during the quarter.
- Share sale. An at-the-market program for up to 35 million Class A shares was opened.
A convertible bond is debt with the right to exchange into shares. Data center construction is financed specifically with debt.
What does this mean for the trader?
The main point: the stock entered the report weak - roughly 73% below its highs - and ahead of publication, price targets were cut by Wells Fargo, Citi, UBS, Rosenblatt and Morgan Stanley.
Price movement. On Tuesday the stock closed at $48.73 (-0.5%). After the close it rose to $51.51 (+5.7%), and on Wednesday morning the gain reached 8%.
- $58 - the nearest reference level above
- $43.66 - the reference level below, last Thursday's close
US stocks are not available in every program. You can check the terms in the calculator and in the prop firm catalog.
What's next?
- 2026 forecast. Revenue of $13.0-13.3 billion, capital expenditures of $37-39 billion.
- Orders. Contracted revenue as of September 30 - $132.5 billion.
- Capacity. Active capacity rose by 200 MW to 1.7 GW, contracted capacity by 900 MW to 4.6 GW.
- Clients. New ones - Canva, Substack and Wayve; contracts with OpenAI, Cohere, Jane Street and Perplexity were expanded.
- Prepayments. Over three months the company expects about $9 billion from customers.
Company valuation. CoreWeave head Michael Intrator called the quarter a breakthrough. Interest in the sector is also being fueled by the anticipated initial public offering of Anthropic.
Did you trade this report after the close?
The main move happened outside the regular session. There the spread is wider, slippage is greater, and the decision is made in minutes. At prop firms this is a separate line in the rules: in some places US stocks are available only during regular hours, in others entering a trade on the reporting day is considered a violation, and in others a position cannot be held overnight. Such lines are read before opening the first trade on someone else's account. In the calculator you can immediately see which programs allow stocks and trading on earnings reports.