CoreWeave's Revenue Grew More Than 400%
Here's our initial take on CoreWeave's (NASDAQ: CRWV) financial report.AI cloud software company CoreWeave (NASDAQ: CRWV) went public in late March, so this was its first earnings report as a publicly traded company. Investors were especially excited to see if the company would sustain its breathtaking growth rate and also had questions about CoreWeave's customer concentration.Well, CoreWeave delivered generally strong numbers. It handily beat expectations for revenue, coming in at $982 million versus consensus estimates of $860 million. The company isn't profitable on the bottom line, even on an adjusted basis, but investors seem happy to overlook a modest loss (even one that missed expectations) when the business is growing at a year-over-year rate of more than 400%.Continue reading
Here's our initial take on CoreWeave's (NASDAQ: CRWV) financial report.
AI cloud software company CoreWeave (NASDAQ: CRWV) went public in late March, so this was its first earnings report as a publicly traded company. Investors were especially excited to see if the company would sustain its breathtaking growth rate and also had questions about CoreWeave's customer concentration.
Well, CoreWeave delivered generally strong numbers. It handily beat expectations for revenue, coming in at $982 million versus consensus estimates of $860 million. The company isn't profitable on the bottom line, even on an adjusted basis, but investors seem happy to overlook a modest loss (even one that missed expectations) when the business is growing at a year-over-year rate of more than 400%.
