On August 12, CoreWeave, Inc. rose 21.32% in regular trading, trading at $110.6/share, with turnover of $2.339 billion. The surge was driven by the company's Q2 earnings report that comprehensively exceeded expectations, combined with an upward revision of full-year guidance.
CoreWeave reported Q2 revenue of $2.575 billion, up 112% year-over-year, surpassing the consensus estimate of $2.56 billion. Adjusted per-share loss of $1.14 was significantly better than the expected $1.41 loss. Adjusted EBITDA reached $1.51 billion, also beating estimates. Revenue backlog climbed to approximately $104 billion, with over 50% already in active delivery. The company raised full-year revenue guidance to $12.4–$13.2 billion and projected Q3 revenue of $3.45–$3.6 billion. Management highlighted a margin inflection point, noting Q2 contract margins are 5–10 percentage points above prior quarters, with a July price increase of approximately 25% across all SKUs yet to fully flow through. Year-end active power capacity guidance was raised to over 1.85 GW.
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