Core Scientific (NASDAQ:CORZ) Announces Quarterly Earnings Results, Beats Estimates By $0.54 EPS

Core Scientific (NASDAQ:CORZ) announced its quarterly earnings results on Thursday. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.54, Zacks reports. The company had revenue of $232.87 million during the quarter, compared to analyst estimates of $196.36 million.

Here are the key takeaways from Core Scientific’s conference call:

• Colocation growth sharply lifted results: Q3 colocation revenue rose nearly 60% sequentially to $215 million, while Adjusted EBITDA increased to $134 million from $41 million and the margin expanded to 57%. Management expects a double-digit sequential revenue increase in Q4 as more capacity begins billing.
• CoreWeave build-out is nearing completion: Core Scientific is billing for 485 MW of the 590 MW contracted across five campuses, with the remaining approximately 100 MW expected to come online by early 2027. The company says CoreWeave has funded most of the build-out and that contractual protections include end-customer support at certain campuses and security interests in infrastructure.
• AMD adds substantial contracted growth, though delivery remains ahead: The initial 530 MW commitment is expected to begin delivering in the first half of 2027, with roughly half coming online next year and the balance in 2028. Together, the CoreWeave and AMD contracts total about 1.1 GW; management projects $1.8 billion in average annual run-rate revenue and $1.6 billion in NOI once fully delivered and billing, while AMD also holds reservation rights for about 1.9 GW of additional capacity.
• Financing remains a key execution risk: Liquidity was approximately $1.7 billion at quarter-end, down about $1 billion sequentially after capital spending and the Polaris acquisition, and the company still needs financing for remaining AMD project costs. Management is pursuing project bonds and other debt options, does not expect to issue equity for the initial AMD build-out, and expects about $650 million from warrant exercises around January 2027.
• Development plans hinge on permits and power availability: Management says current delivery timelines are unchanged, but air permits for the Texas sites are still in process, and behind-the-meter generation plans require further partner and equipment decisions. The company also expects to finish winding down Bitcoin mining in Q4 and enter 2027 focused solely on colocation.

Core Scientific Trading Down 10.8%

CORZ traded down $1.38 during trading on Thursday, hitting $11.38. 34,104,774 shares of the company’s stock were exchanged, compared to its average volume of 12,986,259. Core Scientific has a 1 year low of $10.59 and a 1 year high of $30.46. The stock has a 50 day moving average price of $15.92 and a 200 day moving average price of $19.55. The firm has a market cap of $3.66 billion, a P/E ratio of -2.57 and a beta of 5.56.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CORZ. Needham & Company LLC upped their price objective on Core Scientific from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Compass Point reiterated a “buy” rating and issued a $36.00 target price on shares of Core Scientific in a report on Wednesday, July 29th. Wolfe Research reissued a “buy” rating on shares of Core Scientific in a research report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a research note on Thursday, October 15th. Finally, BTIG Research restated a “buy” rating and set a $38.00 price target on shares of Core Scientific in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.28.

Insider Activity at Core Scientific

In other news, insider Todd DuChene sold 10,000 shares of the firm’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $13.87, for a total value of $138,700.00. Following the transaction, the insider owned 1,143,286 shares of the company’s stock, valued at approximately $15,857,376.82. This trade represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have acquired 19,000 shares of company stock valued at $342,290 and have sold 100,000 shares valued at $1,628,600. Corporate insiders own 1.70% of the company’s stock.

More Core Scientific News

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: For the quarter ended September 2026, Core Scientific reported earnings of $0.47 per share, versus analysts’ expected loss, and revenue of $232.87 million, above the $196.36 million consensus. The earnings improvement from a loss a year earlier and the revenue beat are positive indicators for the business. Core Scientific surpasses Q3 earnings and revenue estimates
• Neutral Sentiment: Analyst views remain broadly favorable but mixed: the cited coverage included a “sell” rating and a price-target cut, alongside buy ratings and a reported average target above the recent share price. These views may offer context but do not guarantee a near-term rebound. Core Scientific insider and analyst coverage
• Negative Sentiment: Insider Todd DuChene sold 10,000 shares for about $127,800, a 0.88% reduction in his holdings. The sale could weigh modestly on sentiment, though he retained more than 1.1 million shares afterward. Core Scientific insider sale

Core Scientific Company Profile

Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.

Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.