CoreWeave Shares Rise After Beating Third-Quarter Expectations

CoreWeave shares increased approximately 7.5% in after-hours trading following a third-quarter financial report that exceeded Wall Street expectations. The company reported revenue of $3.66 billion, surpassing the estimated $3.56 billion, and a loss per share of $1.27, which was narrower than the expected $1.46.

Driven by sustained AI demand, the company raised its fiscal year 2026 revenue guidance to a range between $13 billion and $13.3 billion, up from the previous estimate of $12 billion to $13 billion. The company also provided full-year capital expenditure guidance of $37 billion to $39 billion, a figure that exceeds analyst expectations of $35.6 billion.

The company's CEO noted that customer contracts provide financial flexibility, with an expected $9 billion in customer prepayments and deposits arriving over the next three months. Despite the positive quarterly results and the subsequent rally, the stock remains significantly below its previous highs.