CoreWeave Posts Strong Q2 Results, Backlog Momentum Driven by 'Unprecedented' Demand

CoreWeave Inc (NASDAQ: CRWV ) posted financial results for the second quarter after the market close on Tuesday. Here’s a look at the key details from the report. CoreWeave stock is trending. What’s next for CRWV stock? CoreWeave Q2 Highlights CoreWeave reported second-quarter revenue of $2.58 billion, beating analyst estimates of $2.56 billion, according to Pro. The company reported a second-quarter adjusted loss of $1.03 per share, beating estimates for a loss of $1.22 per share. Total revenue was up approximately 112.5% on a year-over-year basis. The company said it ended the quarter with a revenue backlog of $104 billion, reflecting “unprecedented demand” for CoreWeave Cloud. CoreWeave noted that its backlog doesn’t include more than $25 billion in additional customer commitments added early in the current quarter. “CoreWeave reached an importan...