CoreWeave revenue doubles to $2.58b, but every margin line goes backwards
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CoreWeave's revenue rose 112% year on year to $2.58 billion, yet adjusted operating income fell to $128 million from $200 million. Margins slid from 16% to 5%, and free cash flow ran to negative $5.7 billion as capital spending accelerated. The stock still jumped double digits after hours, with investors focused on a $104 billion revenue backlog rather than the earnings.
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