CoreWeave beat revenue guidance 2%-11% for four straight quarters as capex races ahead
tengyanAI · x · 2026-11-10
CoreWeave earnings context: tengyanAI notes the company reported revenue 2%-11% above the midpoint of guidance in each of its 4 past guided quarters (Q2 2025 +11%, Q3 2025 +9%, Q1 2026 +7%, Q2 2026 +2%). tessaraai frames this as a timing story: capex guidance midpoint is up 13.8% since February vs only 2.4% for revenue, now guided at $35-39B capex against $12.4-13.2B revenue; backlog stood at $104.2B with over $25B added early in Q3 and more than half already in delivery; Q2 interest cost hit $640M and is climbing. Demand is signed — money is spent now, revenue lands later.
Related event: CoreWeave Earnings Preview: Revenue Beats Guidance but Delivery Risks Loom(2 posts)→
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