CoreWeave posts 101% EBITDA growth in Q2, shares jump nearly 15% after hours

CoreWeave reported second-quarter results showing revenue of $2.58 billion, slightly above the $2.56 billion market expectation. Operating income came in at $128 million, with an operating margin of 5%, while EBITDA reached $1.51 billion, up 101% from a year earlier, for a 59% margin. The company posted a net loss of $626 million and diluted loss per share of $1.14. Its earnings per share loss was $1.20, matching market expectations. CoreWeave also said revenue backlog rose to about $104 billion from $99 billion previously, marking an increase of more than 25% since the prior quarter’s earnings report. The backlog figure does not include more than $25 billion in net new customer commitments added at the start of the third quarter. According to MSX.COM data, CoreWeave shares rose nearly 15% in after-hours trading.