Stock Track | Core Scientific Stock Plummets 5.32% on Disappointing 2024 Annual Results, Massive Net Loss

Stock Track

Feb 28, 2025

Shares of Core Scientific, Inc. (CORZ) plummeted 5.32% on Friday during intraday trading following the release of the company's full-year 2024 financial results. The results showed a significant widening of losses compared to the previous year, missing analysts' expectations.

For the fiscal year 2024, Core Scientific reported revenue of $510.7 million, up a modest 1.6% year-over-year. However, the company posted a staggering net loss of $1.32 billion, a 434% increase from the previous year's loss. Earnings per share came in at a loss of $5.14, deteriorating further from the $0.65 loss per share in fiscal 2023.

The massive net loss and disappointing earnings figures were the likely culprits behind the sharp sell-off in CORZ shares on Friday. Despite projections for stronger revenue growth of around 25% annually over the next three years, investors were clearly rattled by the company's inability to stem its losses and meet earnings expectations for the full year.

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(CORZ) plummeted 5.32% on Friday during intraday trading following the release of the company's full-year 2024 financial results. The results showed a significant widening of losses compared to the previous year, missing analysts' expectations.</p>\n\n<p>For the fiscal year 2024, Core Scientific reported revenue of $510.7 million, up a modest 1.6% year-over-year. However, the company posted a staggering net loss of $1.32 billion, a 434% increase from the previous year's loss. Earnings per share came in at a loss of $5.14, deteriorating further from the $0.65 loss per share in fiscal 2023.</p>\n\n<p>The massive net loss and disappointing earnings figures were the likely culprits behind the sharp sell-off in CORZ shares on Friday. Despite projections for stronger revenue growth of around 25% annually over the next three years, investors were clearly rattled by the company's inability to stem its losses and meet earnings expectations for the full year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CORZ","symbol_name":"Core Scientific, Inc.","start_time":0,"source_url":"","article_id":"1136070971","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1136070971","pubTimestamp":1740753734,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Core Scientific, Inc.  plummeted 5.32% on Friday during intraday trading following the release of the company's full-year 2024 financial results. 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