Core Scientific Reports Q2 Revenue of $164.2M, Exceeding Estimates Despite EPS Miss
Core Scientific (CORZ:NASDAQ) reported second-quarter revenue of $164.2 million, a significant increase from the previous year and exceeding estimates by $29.33 million. However, its earnings per share came in at -$3.32, which may not be directly comparable to the consensus estimate of -$0.06 due to unusual factors or accounting adjustments. The company noted that it is billing for 437 MW of capacity as of mid-July, translating into approximately $635 million in average annualized colocation GAAP revenue. Additionally, Core Scientific outlined a capital expenditure plan targeting $2 billion by 2026 and secured project bond financing worth $3.3 billion to support its growth initiatives. Following the earnings report, shares of Core Scientific rose by approximately 7% post-market.
Tickers: $CORZ