Update: CoreWeave Shares Jump Pre-Bell Following Q2 Beat
MT Newswires Live08-12
(Updates with the stock move in the headline and the first paragraph and backlog in the last.)
CoreWeave (CRWV) shares were up 17% in premarket activity Wednesday after the company's Q2 results surpassed market expectations.
The company reported a Q2 loss late Tuesday of $1.14 per diluted share, widening from a loss of $0.60 a year earlier.
Analysts polled by FactSet expected a loss of $1.46.
Revenue for the three months ended June 30 was $2.58 billion, up from $1.21 billion a year earlier.
Analysts expected $2.55 billion.
CoreWeave's revenue backlog rose to about $104 billion at the end of June, compared with $99.4 billion as of March 31.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
