CoreWeave, Inc.: Beat — EPS -$1.27, Revenue $3.66B
Earnings BeatQ3 2026 · After-market
Did CoreWeave, Inc. (CRWV) beat earnings today?
Yes, CoreWeave, Inc. (CRWV) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+18.06% surprise
-$1.27Actual
Expected: -$1.55
vs. year ago -477.3%
Total Revenue+3.42% surprise
$3.66BActual
Expected: $3.54B
vs. year ago +168.2%
Released Nov 10 · 4:05 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $3.66B | $1.36B | +168.2% |
| Net Loss | $(709)M | $(110)M | - |
| GAAP Basic EPS | $(1.27) | $(0.22) | - |
| GAAP Diluted EPS | $(1.27) | $(0.22) | - |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | FY26 Outlook | |
|---|---|---|---|
| Guidance | Guidance | Expected | |
| Interest Expense | $1.05B-$1.15B | — | — |
| Revenue | — | $13.0B-$13.3B | $12.88BBeat +2.10% |
| Adjusted Operating Income | — | $1.275B-$1.375B (+26% midpoint vs. prior guidance | — |
| Active Power | — | >1.85 GW | — |
| Capital Expenditures | — | $37B-$39B (prev. $35B-$39B | — |
| Annualized Run-Rate Revenue | — | $20B-$21B | — |
Q4 2026 Outlook
- Interest Expense
- Guidance$1.05B-$1.15B
- Revenue
- Guidance—
- Adjusted Operating Income
- Guidance—
- Active Power
- Guidance—
- Capital Expenditures
- Guidance—
- Annualized Run-Rate Revenue
- Guidance—
FY26 Outlook
- Interest Expense
- Guidance—Expected—
- Revenue
- Guidance$13.0B-$13.3BExpected$12.88BBeat +2.10%
- Adjusted Operating Income
- Guidance$1.275B-$1.375B(+26% midpoint vs. prior guidanceExpected—
- Active Power
- Guidance>1.85 GWExpected—
- Capital Expenditures
- Guidance$37B-$39B(prev. $35B-$39BExpected—
- Annualized Run-Rate Revenue
- Guidance$20B-$21BExpected—
Business Highlights
- ➤Added more than 200 MW of active power, reaching over 1.7 GW.
- ➤Expanded contracted power by more than 900 MW to over 4.6 GW.
- ➤Broadened international contracted power footprint to over 1.3 GW across India, Indonesia, and Spain.
- ➤Launched CoreWeave Forge AI development environment for training, inference, evaluation, and agent workflows.
- ➤Brought online multi-rack NVIDIA Vera Rubin NVL72 deployments for Cognition production workloads.
- ➤Announced support for NVIDIA Vera CPU for post-training and agentic workloads.
- ➤Introduced Physical AI Field Engineering to embed engineers with customer teams.
- ➤Established the CoreWeave Partner Network with Grafana Labs, CrowdStrike, and VAST Data.
- ➤Earned SemiAnalysis’ Platinum ClusterMAX rating for the third consecutive time.
- ➤Delivered record-setting MLPerf Inference v6.1 server throughput among cloud providers using GB300 NVL72.
- ➤Collaborated with Leidos on secure AI cloud capabilities for defense and intelligence missions.
- ➤Entered a multi-year Solidigm agreement securing priority enterprise SSD capacity.
Management Commentary
Michael Intrator, co-founder, chairman and chief executive officer
“This was a breakout quarter for CoreWeave, with revenue increasing by more than $1 billion sequentially and adjusted operating margins reaching double digits a quarter ahead of plan. Our growth is supported by multiple sources of funding, including financing backed by customer contracts, operating cash flow, and approximately $9 billion in customer prepayments and deposits expected in the next three months alone. That financial flexibility positions us to keep delivering the infrastructure and software customers need to build, run, and scale AI.”