CoreWeave, Inc. (CRWV.US) experienced a significant drop of over 12% in pre-market trading on Friday, with its share price falling to $85.57. The decline followed the company's release of its financial results and future guidance. For the fourth quarter, CoreWeave reported revenue of $1.57 billion, representing a 110% year-over-year increase and slightly surpassing the average market expectation of $1.55 billion. However, the company posted a loss of 89 cents per share, which was worse than analysts had anticipated.
Regarding its performance outlook, CoreWeave provided full-year 2026 revenue guidance in the range of $12 billion to $13 billion, compared to the analyst consensus of $12.09 billion. The company also projected an adjusted operating profit between $900 million and $1.1 billion for 2026. Notably, its first-quarter revenue forecast of $1.9 billion to $2.0 billion fell short of the market consensus estimate of $2.29 billion.
In terms of capital expenditure, CoreWeave plans to allocate $30 billion to $35 billion for 2026, significantly exceeding the $10.31 billion projected for 2025. Mike Intrator, Chief Executive Officer of CoreWeave, commented, "Demand is expanding beyond its initial concentration in hyperscale cloud and foundational model sectors to encompass the broader economy. We are now seeing explosive growth in enterprise-level demand, emerging interest from sovereign entities, and new market participants securing essential infrastructure."
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