CoreWeave stock jumps 15% premarket after Q3 revenue beats estimates

CoreWeave’s third-quarter revenue rose 168% to $3.66 billion, beating analyst estimates by 3.4%. Its revenue backlog reached $132.5 billion.

CoreWeave shares jumped 15.27% in premarket trading Wednesday after the AI cloud provider reported third-quarter revenue that beat analyst estimates.

The shares traded at $56.12 as of 12:50 pm UTC, trimming the stock’s year-to-date decline to 32%, according to Yahoo Finance.

CoreWeave reported $3.66 billion in third-quarter revenue after the market closed on Tuesday, up 168% from $1.36 billion a year earlier.

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