Core Scientific (NASDAQ:CORZ) Announces Earnings Results

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

Core Scientific stock traded down $1.38 during midday trading on Thursday, reaching $11.38. 34,104,774 shares of the stock were exchanged, compared to its average volume of 12,986,259. Core Scientific has a 52 week low of $10.59 and a 52 week high of $30.46. The firm has a market cap of $3.66 billion, a PE ratio of -2.57 and a beta of 5.56. The company’s fifty day moving average is $15.92 and its 200-day moving average is $19.55.

Trending Headlines about Core Scientific

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BTIG Research reissued a “buy” rating and issued a $38.00 price objective on shares of Core Scientific in a research note on Thursday, October 15th. Rothschild & Co Redburn assumed coverage on shares of Core Scientific in a report on Monday, September 21st. They set a “neutral” rating and a $16.00 price objective on the stock. Keefe, Bruyette & Woods raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $25.00 to $28.00 in a research note on Thursday, July 30th. UBS Group restated a “market outperform” rating on shares of Core Scientific in a report on Wednesday, October 14th. Finally, B. Riley Financial dropped their price target on shares of Core Scientific from $42.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.28.

Insider Activity at Core Scientific

In other Core Scientific news, insider Todd DuChene sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $13.87, for a total value of $138,700.00. Following the completion of the sale, the insider owned 1,143,286 shares of the company’s stock, valued at $15,857,376.82. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have acquired 19,000 shares of company stock valued at $342,290 and have sold 100,000 shares valued at $1,628,600. 1.70% of the stock is owned by insiders.

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.