Live: Will CoreWeave (CRWV) Continue To Surge After Q2 Earnings
CoreWeave (CRWV) is set to report its Q2 earnings, following a strong Q1 performance with revenue exceeding expectations but a significant EPS miss. Despite a decline on its IPO day, the stock has surged 256% since then. Analysts predict Q2 revenue will surpass $1 billion, driven by an $11.9B OpenAI contract and a new $4B expansion deal. Investors are keenly watching for updates on infrastructure investments and the impact of rising interest costs, as well as the potential for revenue growth from AI monetization.
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CoreWeave’s IPO-era earnings showed a revenue beat but sharp EPS miss. Stock declined on day one but recovered over the next week — signaling investor willingness to back the long-term growth case despite short-term cost pressure.
| Quarter | EPS Surprise | 1-Day Move | 7-Day Move | 14-Day Move |
|---|---|---|---|---|
| Q1 2025 | –422.4% | –2.13% | +4.87% | +3.71% |
CoreWeave (NASDAQ: CRWV) reports Q2 earnings after the close, marking its second quarterly update as a public company. In its short time as a public company, shares have skyrocketed, up 256% since its IPO.
Analysts expect revenue to exceed $1 billion for the first time, but continued EPS losses reflect heavy infrastructure investment and rising interest costs. This report will be closely watched for execution on CoreWeave’s $11.9B OpenAI contract and backlog growth tied to its recently announced $4B expansion deal. With CapEx ramping sharply and the inference workload mix evolving, CoreWeave’s results offer a high-stakes readout on AI infrastructure monetization at hyperscale.
We’ll be updating this live blog with news and analysis right after CoreWeave’s earnings hit the newswires. To receive updates, all you have to do is leave this page open, and updates will post automatically.
What’s Expected
Wall Street consensus for Q2 2025:
– Revenue: $1.08 billion
– EPS (Normalized): –$0.20
Full-year FY 2025 forecasts:
– FY 2025 Revenue: $5.04 billion
– FY 2025 EPS: –$1.21
Key Areas to Watch
OpenAI Contract Execution
Management confirmed an $11.9B deal with OpenAI, which is excluded from RPO due to accounting treatment. Investors will expect delivery updates and associated revenue ramping in H2.
$4B Expansion Deal Adds to Backlog
Signed in Q2 but not reflected in Q1 metrics, this additional hyperscaler contract brings total backlog to ~$29B. Execution visibility and customer concentration risks will be key talking points.
Inference Adoption as Revenue Driver
CEO emphasized growing use of infrastructure for Inference, calling it the “monetization of AI.” This shift signals broader revenue durability and potential margin leverage from existing infrastructure.
Capital Expenditures and Interest Burden
CapEx jumped to $1.9B in Q1 and is guided to $3–3.5B for Q2. With $260–$300M in Q2 interest expense, investors will scrutinize financing structures and breakeven timing.
Weights & Biases Acquisition Impact
Closed May 5. Now consolidated, this acquisition is expected to unlock access to 1,400 AI labs and enterprise clients — a key pillar in CoreWeave’s expanding go-to-market strategy.
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