CoreWeave Reports Earnings
CoreWeave reported revenue of $3.66 billion for the third quarter of 2026, CNBC reported, beating the LSEG consensus estimate of $3.55 billion as demand for artificial intelligence infrastructure held firm despite broader market volatility.
The company posted an adjusted loss of 95 cents per share, which came in ahead of the $1.16 loss expected by analysts, according to CNBC. On a GAAP basis, TradingKey.com reported that CoreWeave recorded a net loss of $709 million, or $1.27 per share, compared to a net loss of $110 million a year earlier, driven largely by an increase in net interest expense to $846 million.
Infrastructure Expansion and Backlog
During the quarter, CoreWeave added more than 200 megawatts of active power to push its total footprint beyond 1.7 gigawatts, according to 247wallst.com. Total contracted power increased by more than 900 megawatts to over 4.6 gigawatts, which includes more than 1.3 gigawatts across international markets such as India, Indonesia, and Spain, TradingKey.com reported.
The company’s revenue backlog reached approximately $132.5 billion, up from $104 billion in June. Chief Executive Officer Michael Intrator called it a breakout quarter, noting that adjusted operating margins hit double digits a quarter ahead of schedule, according to 247wallst.com.
Revenue guidance rises as financing costs pose concerns
To support its rapid buildout, CoreWeave lifted its full-year 2026 revenue guidance to between $13 billion and $13.3 billion, CNBC reported. Executives also projected 2026 adjusted operating income between $1.275 billion and $1.375 billion.
However, rising interest rates and a cooling AI trade have driven some bond yields above 16%, raising concerns about the cost and availability of capital. “The business can execute well and still face a tougher financing environment,” Joe Tigay, portfolio manager at Equity Armor Investments, wrote in an email reported by CNBC.
Finance chief Nitin Agrawal told analysts that the company projects under $5 billion in parent-level debt financing through 2027, relying instead on client prepayments and asset-level secured debt.
Frequently Asked Questions
What was CoreWeave’s GAAP loss per share for the third quarter of 2026?
CoreWeave reported a GAAP loss of $1.27 per share for the quarter ended September 30, 2026, according to 247wallst.com, beating the consensus estimate of $1.55.
How much active power does CoreWeave currently operate?
The company added over 200 megawatts of active power during the third quarter, bringing its total active footprint above 1.7 gigawatts, as reported by 247wallst.com.
What is CoreWeave’s updated revenue guidance for 2026?
Executives raised their full-year 2026 revenue forecast to a range of $13 billion to $13.3 billion, CNBC reported, outpacing prior analyst expectations of $12.86 billion.
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