TradingKey – As of August 11, Eastern Time, CoreWeave (CRWV) reported its second-quarter financial results after hours. Driven by better-than-expected revenue, narrower-than-expected losses, and an order backlog topping $100 billion, CRWV’s after-hours stock price surged over 15% at one point.
CoreWeave Revenue Grows 112%, Order Backlog Tops $100 Billion
Financial results showed that CoreWeave’s second-quarter revenue reached $2.575 billion, up 112% year-over-year from $1.212 billion in the same period last year, and slightly beating market expectations of approximately $2.555 billion, marking its fifth consecutive quarter of record revenue.
Notably, as of the end of June, the company’s revenue backlog reached approximately $104 billion, a…
