Nebius falls 16% as company expects increased 2026 capex spend, issues weak outlook
Nebius' earnings report comes after fellow neoclouds IREN and CoreWeave showed better-than-expected results in the past week.
TL;DR
- Nebius' stock fell 16% after reporting third-quarter revenue that exceeded analyst expectations.
- The company issued a disappointing guidance for fiscal year 2026, expecting revenue at the lower end of its projected range.
- Fiscal year 2026 capital expenditures are projected to be higher at $27 billion, exceeding previous guidance and market expectations.
- Nebius also provided an initial outlook for 2027, anticipating higher-than-expected revenue and significantly increased capital expenditures.
- The company reported a net loss of $37.5 million, or 13 cents per share, for the quarter.