CoreWeave beat third-quarter revenue expectations and raised its full-year outlook on November 10, 2026, according to SiliconANGLE. Shares rose more than 5% in late trading. The cloud-computing company reported revenue of $3.66 billion against expectations of $3.55 billion. Source
Its quarterly net loss widened to $709 million from $110 million in the same period a year earlier. Its loss before certain costs, including stock compensation, was $1.27 per share, worse than the expected $1.16 loss, SiliconANGLE reported. A revenue beat, yes. A clean sweep, no. Source
A higher forecast
Executives raised the full-year revenue forecast to $13 billion–$13.3 billion from the $12.4 billion–$13.2 billion range projected three months earlier, according to SiliconANGLE. They also forecast adjusted operating income of $1.275 billion–$1.375 billion. Adjusted operating income isn’t the same as net profit. Source
The company’s reported revenue backlog reached $132.5 billion, up from $104 billion three months earlier, CEO Michael Intrator said, according to the outlet. That points to business still to be delivered; the figure alone doesn’t show how much cash customers have already paid toward it. Source
MarketWatch quoted Joe Tigay, portfolio manager of the Rational Equity Armor Fund, saying the report “gives investors more confidence that customer demand is translating into actual revenue.” Source
The buildout still needs paying for
SiliconANGLE reported that CoreWeave expected capital expenditure of $37 billion–$39 billion for the year, while total debt was approaching $47 billion at the end of the quarter. Growing the computing business comes with a distinctly unvirtual construction bill. Source
Intrator told analysts that most fiscal 2027 capital requirements would come from customer prepayments and hardware partners such as Nvidia, alongside a “limited amount” of outside funding, according to SiliconANGLE. Source
“At current yields we do not intend to issue additional parent-level unsecured debt through 2027,” finance chief Nitin Agrawal told analysts, as quoted by SiliconANGLE. CoreWeave still plans new borrowing tied to contracts. Source
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