Is CoreWeave (CRWV) Stock a Buy Ahead of Earnings Today?
TLDR
- Analysts expect Q2 revenue of $2.6 billion, up 111% year over year
- CoreWeave stock has dropped more than 30% since its last earnings report in May
- Capital expenditures for Q2 are estimated at up to $9 billion, with $25 billion in debt on the balance sheet
- Adjusted pre-tax income is not expected to turn positive until 2028
- New competition is emerging from SpaceX, which is renting compute capacity to Anthropic and Google
CoreWeave reports second quarter earnings after the bell on Tuesday, and Wall Street will be watching closely.
CoreWeave, Inc. Class A Common Stock, CRWV
Analysts expect revenue of $2.6 billion for the quarter, representing 111% growth from the same period last year. That would continue a run of triple-digit growth that has taken the company from $16 million in annual sales in 2022 to an estimated $12.6 billion this year.
The stock was trading at $88.19 at Monday’s close, down 2.74% on the day. It has fallen more than 30% since CoreWeave last reported results in May.
CoreWeave is burning through cash at a rapid pace. Capital expenditures for Q2 are guided at up to $9 billion, compared to $2.4 billion in the same quarter last year.
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