🔴 CRWV is trading 10.2% down today on wider-than-expected Q1 loss

CRWV is trading at $115.78 (-10.2%) in after-hours after reporting a wider-than-expected Q1 loss of ($1.40) per share versus the ($1.17) estimate.

• Revenue beat expectations at $2.078B (vs. $1.97B est) with a record $99.4B backlog bolstered by a new Meta partnership.
• Management raised full-year revenue guidance to $14.5B–$15.5B, but the improved outlook failed to calm profitability concerns amid broader market weakness.