Nebius Group reported Q3 revenue of $980.8 million, up 571.3% year over year and $73.63 million above analyst estimates. Its GAAP loss per share was $0.13, $1.11 better than expected. Shares of Nebius and rival CoreWeave reversed downward after a period of significant gains, and Nebius shares fell again following the earnings report despite the positive results.
The company beat quarterly revenue estimates, but delays in bringing contracted capacity online and higher capital spending pressured the stock and pushed back its annual revenue target.
Read the full storyRevenue beat analysts’ estimates, but delayed capacity prompted the company to lower its 2026 outlook and raise capital spending to about $27 billion.