The neocloud just released quarterly results.
CoreWeave is tumbling in postmarket trading after suffering a big bottom-line miss along with much higher-than-anticipated capital expenditure.
For Q4, the neocloud reported:
Revenues of $1.57 billion (estimate: $1.55 billion).
Adjusted EBITDA of $898 million (estimate: $936 million).
Adjusted capex of $8.2 billion (estimate: $6 billion).
Netflix said Thursday evening that it was declining to increase its offer for Warner Bros., effectively ending the streaming platform's pursuit of the studio and ensuring that Paramount Skydance's improved bid of $31 per share would emerge victorious.
In a statement, Netflix's co-CEOs Ted Sarandos and Greg Peters said "this transaction was always a 'nice to have' at the right price, not a 'must have' at any price."
The Warner Bros. Discovery board said Thursday afternoon that it had determined that Paramount’s latest bid constitutes a superior proposal to the $83 billion agreement it has with Netflix.
Before Netflix's announcement Thursday evening, the Netflix-Warner Bros. merger had remained in effect, and Netflix had a four-business-day window to amend its deal to match or beat Paramount’s. The streamer's announcement effectively eliminates that waiting period and allow Paramount's offer to move forward.
Netflix's statement that it is pulling out of the race allows the Warner Bros. board to terminate its merger agreement with the streamer.
It had been reported that Netflix had ample cash to increase its offer for Warner Bros., but in not doing so, it appears that Netflix management saw its share price increase in the wake of Paramount boosting its bid, and took the strong signal that its own investors that they weren't exactly rooting for it to make the purchase to heart.
Earlier on Thursday, Warner Bros.’ announcement boosted Paramount’s odds on prediction markets to end up in control of the company. As of 4:40 p.m. ET on Thursday, event contracts speculating on which company will ultimately come out on top of the bidding war have Paramount at a 62% chance over Netflix’s 33% odds.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
The Warner Bros. Discovery board said Thursday afternoon that it had determined that Paramount’s latest bid constitutes a superior proposal to the $83 billion agreement it has with Netflix.
Before Netflix's announcement Thursday evening, the Netflix-Warner Bros. merger had remained in effect, and Netflix had a four-business-day window to amend its deal to match or beat Paramount’s. The streamer's announcement effectively eliminates that waiting period and allow Paramount's offer to move forward.
Netflix's statement that it is pulling out of the race allows the Warner Bros. board to terminate its merger agreement with the streamer.
It had been reported that Netflix had ample cash to increase its offer for Warner Bros., but in not doing so, it appears that Netflix management saw its share price increase in the wake of Paramount boosting its bid, and took the strong signal that its own investors that they weren't exactly rooting for it to make the purchase to heart.
Earlier on Thursday, Warner Bros.’ announcement boosted Paramount’s odds on prediction markets to end up in control of the company. As of 4:40 p.m. ET on Thursday, event contracts speculating on which company will ultimately come out on top of the bidding war have Paramount at a 62% chance over Netflix’s 33% odds.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
The company reported earnings results on Thursday.
