CoreWeave Faces Earnings Pressure, Paramount Skydance Soars on Results
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Show Notes
On this episode of Stock Movers:
- CoreWeave (CRWV) reported narrower profit margins in the third quarter as the cloud computing company races to expand its infrastructure and serve more customers.The operating income margin was 4% in the period, the company said in a statement Monday. That missed an average analyst estimate of 6.5% and was lower than the year-earlier period. The tighter margins were a weak spot in an otherwise upbeat report. Revenue rose to $1.36 billion in the quarter, topping the $1.29 billion estimate. CoreWeave reported a loss of 22 cents a share, compared with the 57 cents that Wall Street projected. The shares fell about 3% in late trading after the report was published, reversing an earlier rise. The stock had more than doubled this year through the close.
- Paramount Skydance (PSKY) reporting financial results for the first time since a new investor group took over the media company in August, raised its target for job cuts and cost-saving measures. The company, which has been trying to buy rival Warner Bros. Discovery Inc., said in a letter to shareholders it plans an additional 1,600 job cuts as part of a goal to achieve at least $3 billion in cost savings. The shares rose as much as 10% in extended trading before giving up about half that gain.
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