Updated 11 November 2026, 06:45 GMT. CoreWeave (Nasdaq: CRWV) closed Tuesday at $48.73, down 0.5 percent on the day (Yahoo Finance), then rose in after-hours trading after third-quarter revenue of $3.66 billion, up 168 percent, and a full-year revenue guide raised to $13.0 billion to $13.3 billion. Investing.com put the after-hours gain at 5.7 percent, to $51.51. Verdict: the quarter beat and the guide went up, but the loss widened and interest costs keep rising. Reference levels: $58 above, $43.66 below.
Key facts
- Revenue: $3,661 million in the third quarter, against $1,365 million a year earlier (CoreWeave 8-K, 10 November).
- Loss per share: $1.27, against $1.55 expected (Investing.com). Net loss widened to $709 million from $110 million (8-K).
- Interest expense: $846 million net in the quarter, up from $310 million (8-K). Fourth-quarter guide: $1.05 billion to $1.15 billion.
- Adjusted operating income: $379 million, a 10 percent margin (8-K).
- Revenue backlog: about $132.5 billion as of 30 September (8-K).
- 2026 guidance: revenue $13.0 billion to $13.3 billion, adjusted operating income $1.275 billion to $1.375 billion, capital spending $37 billion to $39 billion, and an exit run-rate of $20 billion to $21 billion (8-K).
- Shares: $48.73 at Tuesday’s close; $48.98 on Monday after a 5.6 percent gain; $43.66 at last Thursday’s close (Yahoo Finance).
What CoreWeave reported
Chief executive Michael Intrator called it “a breakout quarter”, with revenue up more than $1 billion from the second quarter and adjusted operating margins reaching double digits a quarter ahead of plan, according to the company’s release. Active power rose by more than 200 megawatts to over 1.7 gigawatts, and contracted power by more than 900 megawatts to over 4.6 gigawatts. The company still expects more than 1.85 gigawatts of active power at year-end.
Customer additions named in the release include Canva, Substack and Wayve, with expanded relationships at OpenAI, Cohere, Jane Street and Perplexity. CoreWeave also said it expects about $9 billion in customer prepayments and deposits over the next three months.
Why the stock is not a clean beat story
The bottom line moved the other way. Net interest expense almost tripled from a year earlier to $846 million, and the net loss widened to $709 million. The fourth-quarter interest guide of $1.05 billion to $1.15 billion means the cost of funding the build-out is still rising faster than operating income. During the quarter the company raised about $4.2 billion in convertible notes and set up an at-the-market programme for up to 35 million Class A shares, which can add supply to the stock.
The shares came into the report weak. Benzinga noted the stock was down about 73 percent from its highs before the print, and analysts at Wells Fargo, Citi, UBS, Rosenblatt and Morgan Stanley all cut their price targets in the run-up, according to Benzinga and TipRanks. The desk’s 7 November preview covered the rebound into the report and the third-quarter guide CoreWeave had set.
After-hours reaction: sources differ
Reports on the extended-hours move vary with the time they were taken. Investing.com reported a 5.7 percent rise to $51.51; KuCoin’s news feed cited a gain of about 8 percent; a Yahoo Finance video put it at about 2 percent. Regular trading opens at 14:30 GMT, so Wednesday’s first real test is still ahead. Before the report, options were pricing a move of roughly 18 to 21 percent in either direction, according to Zacks via Nasdaq.com, Benzinga and Mitrade, measured on 9 and 10 November.
CRWV stock: bull, base and bear
| Scenario | CRWV | What has to happen | Anchor |
|---|---|---|---|
| Bear | $43.66 | The market focuses on the wider loss, interest costs and possible share sales. | Last Thursday’s close (Yahoo Finance); about 10 percent below $48.73. |
| Base | $48-$53 | The after-hours gain largely holds as investors weigh the raised guide against funding costs. | Tuesday’s close and the top of the reported after-hours range. |
| Bull | $58 | The raised guide and backlog drive a full options-sized move higher. | A roughly 19 percent move from $48.73, in line with the pre-results options pricing. |
The bear case sits below Tuesday’s close. These are reference levels, not forecasts. Analyst price targets set before the results sit well above all three: Morgan Stanley $70 (equal-weight), UBS $105, Wells Fargo $115, Citi $128 and Rosenblatt $160, according to Benzinga and TipRanks. Any post-results changes had not been published at the time of writing.
What to watch
- Today, 14:30 GMT: the first regular session after the results.
- $51.51: Investing.com’s after-hours level; holding it would confirm the reaction.
- Analyst notes: target changes after the call.
- Thursday 12 November: Nebius reports; our Nebius week-ahead page sets out what that report needs to show.
- Funding: any use of the at-the-market share programme or new debt.
Quick take: CoreWeave beat on revenue and loss per share, raised its 2026 revenue guide to $13.0 billion to $13.3 billion and reported a $132.5 billion backlog. The stock closed at $48.73 and traded higher after hours. The risk is the funding bill: interest expense of $846 million in the quarter and up to $1.15 billion next quarter. $43.66 is the downside reference; $58 the upside.
FAQ
What is CoreWeave’s stock price today?
CRWV closed at $48.73 on Tuesday 10 November, according to Yahoo Finance. Investing.com reported after-hours trading at $51.51, up 5.7 percent.
Did CoreWeave beat earnings?
Yes. Revenue of $3.66 billion was above the roughly $3.54 billion analysts expected, and the loss of $1.27 per share was narrower than the $1.55 expected, according to Investing.com.
What is CoreWeave’s 2026 guidance?
Revenue of $13.0 billion to $13.3 billion, adjusted operating income of $1.275 billion to $1.375 billion and capital spending of $37 billion to $39 billion, per the company’s 8-K.
How big is CoreWeave’s backlog?
About $132.5 billion as of 30 September 2026, up from about $104 billion at the end of June.
Why did CoreWeave’s loss widen?
Mainly interest. Net interest expense rose to $846 million from $310 million a year earlier as the company borrowed to build data centres.
What are analysts’ price targets for CoreWeave?
Before the results, targets ranged from $70 at Morgan Stanley to $160 at Rosenblatt, according to Benzinga and TipRanks. Several were cut in the week before the report.
Sources: CoreWeave Form 8-K and third-quarter 2026 results release, 10 November 2026 (revenue, losses, interest, backlog, guidance, operating data); Yahoo Finance daily closes, 5-10 November 2026; Investing.com earnings call transcript, 10 November 2026 (estimates, after-hours price); KuCoin and Yahoo Finance video reports, 10 November 2026 (after-hours moves); Benzinga and TipRanks, November 2026 (analyst targets, decline from highs); Zacks via Nasdaq.com, Benzinga and Mitrade, 9-10 November 2026 (options-implied move).
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Stock prices are volatile, especially around earnings. Do your own research and consult a licensed financial adviser before making investment decisions.
