Earnings
100 latest quarters, most pertinent to a data-center book first. Every name is a block through the end of the book. The first nine carry the release note. The rest carry the filing: revenue, the year-ago print, and diluted earnings per share.
100 companies
Silicon
Data Center revenue · 26 August 2026
Data Center at 89.0 billion dollars, up 117 percent, is almost the whole 96.2 billion quarter, up 106 percent on the year and 18 percent on the quarter, and it cleared at a 75.0 percent gross margin. The guide is 108.0 billion, plus or minus 2 percent, with no China Data Center compute assumed. The step from 46.7 to 81.6 to 96.2 is customer capex showing up as chip sales. For credit, that is the clearing price of the collateral. For anyone buying capacity, a higher guide means allocation stays tight.
$46.7bn
Q2 FY26
$81.6bn
Q1 FY27
$96.2bn
Q2 FY27
$108bn
Q3 guide
Revenue. Grey is the outlook.
- Revenue
- $96.2bn, +106% on the year, +18% on the quarter
- Data Center
- $89.0bn, +117%
- Gross margin
- 75.0%, GAAP and non-GAAP
- GAAP / non-GAAP EPS
- $2.46 / $2.22
- Next-quarter revenue
- $108.0bn, plus or minus 2%
- China
- No Data Center compute revenue in the outlook
Hyperscaler
Microsoft Cloud · 29 July 2026
The offtake a campus is built to serve is Microsoft Cloud at 59.3 billion dollars, with Azure up 43 percent, and the contract a credit committee can hold is commercial backlog of 678 billion, up 84 percent. Cash purchases of property and equipment were 35.8 billion, from 17.1 billion, inside revenue of 90.0 billion, up 18 percent. Backlog is the asset. The cash going out the door is what still has to be financed before that offtake is collected.
$17.1bn
Year ago
$35.8bn
This quarter
Cash purchases of property and equipment
- Revenue
- $90.0bn, +18%
- Azure and other cloud
- +43%
- Commercial backlog
- $678bn, +84%
- Cash purchases of property and equipment
- $35.8bn
Hyperscaler
AWS net sales · 30 July 2026
AWS at 42.2 billion dollars, up 37 percent from 30.9 billion, with operating income of 16.6 billion from 10.2 billion, is the cloud profit that is supposed to carry the build. It did not throw off cash: purchases of property and equipment were 54.2 billion and trailing free cash flow was an outflow of 7.6 billion, on company sales of 200.6 billion, up 20 percent. The next quarter is guided at 197.0 to 202.0 billion. An incremental hall is a financing, not a use of surplus cash.
$30.9bn
Year ago
$42.2bn
This quarter
AWS net sales
- Company net sales
- $200.6bn, +20%
- AWS growth
- +37%, fastest in 18 quarters
- AWS operating income
- $16.6bn, from $10.2bn
- Cash purchases of property and equipment
- $54.2bn
- Trailing free cash flow
- outflow of $7.6bn
- Third-quarter net sales
- $197.0–$202.0bn
Hyperscaler
Google Cloud · 22 July 2026
Google Cloud grew to 24.8 billion dollars from 13.6 billion, up 82 percent, inside company revenue of 119.8 billion, up 24 percent. That demand is real, and it was not self-funded: property and equipment took 44.9 billion, free cash flow was negative 5.9 billion, and a June equity and preferred issue raised 49.6 billion net. The credit point is the funding mix. This leg of the build was paid for in the equity market.
$13.6bn
Year ago
$24.8bn
This quarter
Google Cloud revenue
- Alphabet revenue
- $119.8bn, +24%
- Google Cloud growth
- +82%
- Cash purchases of property and equipment
- $44.9bn
- Free cash flow
- −$5.9bn
- Stock issued in June
- $49.6bn net
Hyperscaler
Cloud infrastructure · 10 September 2026
What can be billed today is cloud infrastructure of 7.4 billion dollars, up 121 percent, inside cloud revenue of 11.6 billion, up 62 percent, on company revenue of 19.3 billion, up 30 percent. The 664 billion of remaining performance obligations is sold and still unbuilt. The quarter spent 28.5 billion to deliver 850 megawatts and printed free cash flow of negative 5.4 billion. A fiscal 2027 revenue floor of 90 billion and non-GAAP earnings of 8.10 dollars do not pay for that construction. Lenders are underwriting backlog against cash burn. Operators have 850 megawatts of the 664 billion actually online.
$3.3bn
FY26 Q1
$4.1bn
Q2
$4.9bn
Q3
$5.8bn
Q4
$7.4bn
FY27 Q1
Cloud infrastructure revenue
- Revenue
- $19.3bn, +30%
- Cloud infrastructure
- +121%, to $7.4bn
- Cloud revenue
- $11.6bn, +62%
- Remaining performance obligations
- $664bn
- Capital expenditure
- $28.5bn
- Free cash flow
- −$5.4bn
- Data-center capacity delivered
- 850 MW
- Fiscal 2027 revenue
- at least $90bn
- Fiscal 2027 non-GAAP EPS
- $8.10
Hyperscaler
Revenue · 29 July 2026
Meta is a buyer of its own compute, not a cloud landlord. Revenue of 60.8 billion dollars, from 47.5 billion, is advertising offtake. Capex of 31.08 billion already includes finance-lease principal, so those leases are inside the spend and should not be added again as a second claim. The company guides next-quarter revenue to 61 to 64 billion and full-year capex to 130 to 145 billion on that same basis. Size the build off this capex number.
$47.5bn
Year ago
$60.8bn
This quarter
Total revenue
- On the year
- from $47.5bn
- Capex, with finance-lease principal
- $31.08bn
- Third-quarter revenue
- $61–64bn
- 2026 capex, same basis
- $130–145bn
Neocloud
Revenue backlog · 11 August 2026
CoreWeave billed 2,575 million dollars, from 1,212 million, against a backlog near 104 billion that still excludes more than 25 billion signed after the quarter. Only 1.5 gigawatts is active, versus about 3.7 gigawatts contracted, so most of what was sold cannot bill yet. Operations lost 49 million and interest was 640 million, beside adjusted EBITDA of 1,510 million at a 59 percent margin. The backlog is not cash a lender can take. Interest already absorbs the margin that EBITDA suggests.
$1.21bn
Year ago
$2.58bn
This quarter
Revenue
- Revenue
- $2,575 million, from $1,212 million
- Backlog
- about $104bn, excluding more than $25bn added early in Q3
- Active power
- 1.5 GW, up nearly 500 MW
- Contracted power
- about 3.7 GW
- Operating income
- loss of $49 million
- Interest expense
- $640 million
- Adjusted EBITDA
- $1,510 million, 59% margin
Energy
Gas under contract · 22 July 2026
A data-center loan waits on a turbine slot. Gas equipment and reservations moved from 100 gigawatts to 116, and the company expects at least 125 by year-end. Orders of 24.2 billion dollars, up 88 percent organically, ran well ahead of revenue of 11.1 billion, up 22 percent and 12 percent organically, and backlog reached 176 billion, up 13.0 billion. Data-center electrification orders were over 5 billion in the first half, more than double 2025. No slot means no power date. The 116 gigawatts is the queue those loans sit behind.
100 GW
Prior quarter
116 GW
This quarter
125 GW
Year-end
Gas equipment and slot reservations. Grey is year-end.
- Revenue
- $11.1bn, +22%, +12% organically
- Orders
- $24.2bn, +88% organically
- Backlog
- $176bn, up $13.0bn on the quarter
- Gas equipment and slot reservations
- 100 GW to 116 GW
- Year-end gas, company expects
- at least 125 GW
- Electrification data-center orders
- over $5bn in the first half, more than double 2025
Energy
Nuclear PPAs signed · 6 August 2026
Sign 920 megawatts only if the power date can wait. The new nuclear agreements run 15 to 20 years and do not start until 2029 to 2032. Adjusted earnings of 2.55 dollars, from 1.91, and a guide raised to 11.50 to 12.50 from 11 to 12, describe this year, next to GAAP of 1.42 from 2.67 and revenue of 7.50 billion. A banker or a developer who needs megawatts in this cycle does not have them. Delivery is 2029.
$1.91
Year ago
$2.55
This quarter
Adjusted operating earnings per share
- Adjusted operating earnings
- $2.55, from $1.91
- GAAP earnings
- $1.42, from $2.67
- Full-year adjusted guide
- $11.50–$12.50, from $11–$12
- Operating revenue
- $7.50bn
- The new contracts
- 15–20 years, starting 2029–2032
Silicon
Astera LabsALAB
Company revenue · quarter ended 30 June 2026
Connectivity inside the server, between the GPU and the rest of the board.
$192m
Year ago
$392m
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $192m
- Diluted EPS
- $0.83
- Filing
- 10-Q · 5 August 2026
Silicon
Company revenue · quarter ended 26 July 2026
The tools that have to exist before the next chip exists.
$7.30bn
Year ago
$9.12bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $7.30bn
- Diluted EPS
- $3.17
- Filing
- 10-Q · 20 August 2026
Silicon
Company revenue · quarter ended 29 March 2026
Etch and deposition capacity for the same chips.
$4.72bn
Year ago
$5.84bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $4.72bn
- Diluted EPS
- $1.45
- Filing
- 10-Q · 23 April 2026
Rack
Company revenue · quarter ended 31 March 2026
The integrator shipping the rack.
$4.60bn
Year ago
$10.2bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $4.60bn
- Diluted EPS
- $0.72
- Filing
- 10-Q · 11 May 2026
Rack
Company revenue · quarter ended 31 July 2026
The other branded server supply.
$9.14bn
Year ago
$12.2bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $9.14bn
- Diluted EPS
- $1.06
- Filing
- 10-Q · 3 September 2026
Rack
Company revenue · quarter ended 30 June 2026
Power stages on the board.
$665m
Year ago
$981m
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $665m
- Diluted EPS
- $5.22
- Filing
- 10-Q · 5 August 2026
Rack
Company revenue · quarter ended 29 June 2026
The printed circuit boards in the server.
$731m
Year ago
$1.00bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $731m
- Diluted EPS
- $0.77
- Filing
- 10-Q · 5 August 2026
Rack
Company revenue · quarter ended 26 June 2026
The other connector supply.
$4.53bn
Year ago
$5.16bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $4.53bn
- Diluted EPS
- $2.55
- Filing
- 10-Q · 24 July 2026
Rack
Company revenue · quarter ended 3 April 2026
Storage beside the GPU.
$2.29bn
Year ago
$3.34bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $2.29bn
- Diluted EPS
- $8.20
- Filing
- 10-Q · 1 May 2026
Power
Company revenue · quarter ended 31 March 2026
Territories where campuses are asking for load, including Ohio.
$5.46bn
Year ago
$6.02bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $5.46bn
- Diluted EPS
- $1.60
- Filing
- 10-Q · 5 May 2026
Power
Company revenue · quarter ended 31 March 2026
Another mid-Atlantic and Ohio queue.
$3.77bn
Year ago
$4.20bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $3.77bn
- Diluted EPS
- $0.70
- Filing
- 10-Q · 28 April 2026
Power
Company revenue · quarter ended 30 June 2026
Wisconsin, where campuses are being sited.
$2.01bn
Year ago
$2.06bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $2.01bn
- Diluted EPS
- —
- Filing
- 10-Q · 4 August 2026
Power
Company revenue · quarter ended 31 March 2026
New York City load.
$4.80bn
Year ago
$5.09bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $4.80bn
- Diluted EPS
- $2.54
- Filing
- 10-Q · 7 May 2026
Power
Company revenue · quarter ended 30 June 2026
New England wires.
$2.84bn
Year ago
$2.90bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $2.84bn
- Diluted EPS
- $0.14
- Filing
- 10-Q · 3 August 2026
Power
Company revenue · quarter ended 31 March 2026
Southern California wires.
$3.81bn
Year ago
$4.10bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $3.81bn
- Diluted EPS
- $1.37
- Filing
- 10-Q · 28 April 2026
Power
Company revenue · quarter ended 30 June 2026
The other on-site generation supply.
$16.6bn
Year ago
$20.5bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $16.6bn
- Diluted EPS
- $7.77
- Filing
- 10-Q · 5 August 2026
Power
Company revenue · quarter ended 31 March 2026
Fuel cells a site can add when the grid date slips.
$326m
Year ago
$751m
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $326m
- Diluted EPS
- $0.23
- Filing
- 10-Q · 29 April 2026
Power
Company revenue · quarter ended 30 June 2026
Nuclear components for the plants behind a late power date.
$764m
Year ago
$902m
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $764m
- Diluted EPS
- $0.97
- Filing
- 10-Q/A · 5 August 2026
Power
Company revenue · quarter ended 30 June 2026
The transmission build without which the power date does not exist.
$6.77bn
Year ago
$9.56bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $6.77bn
- Diluted EPS
- $2.96
- Filing
- 10-Q · 30 July 2026
Power
Company revenue · quarter ended 30 June 2026
Mechanical construction inside the hall.
$2.17bn
Year ago
$3.27bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $2.17bn
- Diluted EPS
- $12.53
- Filing
- 10-Q · 23 July 2026
Power
Company revenue · quarter ended 30 June 2026
Site work for the campuses.
$614m
Year ago
$1.17bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $614m
- Diluted EPS
- $5.00
- Filing
- 10-Q · 4 August 2026
Sites
Company revenue · quarter ended 31 March 2026
The wholesale landlord.
$1.41bn
Year ago
$1.64bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $1.41bn
- Diluted EPS
- $0.46
- Filing
- 10-Q · 1 May 2026
Sites
Company revenue · quarter ended 30 June 2026
A data-center landlord that came out of storage.
$1.71bn
Year ago
$2.03bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $1.71bn
- Diluted EPS
- $0.34
- Filing
- 10-Q · 5 August 2026
Sites
Company revenue · quarter ended 28 February 2026
A developer signing power and leases for high-performance compute.
$52.9m
Year ago
$127m
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $52.9m
- Diluted EPS
- −$0.36
- Filing
- 10-Q · 8 April 2026
Sites
Company revenue · quarter ended 30 June 2026
The same shift, on another balance sheet.
$43.6m
Year ago
$24.8m
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $43.6m
- Diluted EPS
- −$0.65
- Filing
- 10-Q · 4 August 2026
Sites
Company revenue · quarter ended 30 June 2026
A host with a large power position.
$78.6m
Year ago
$164m
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $78.6m
- Diluted EPS
- −$3.32
- Filing
- 10-Q · 28 July 2026
Sites
Company revenue · quarter ended 30 June 2026
Power and sites first, contracted compute second.
$153m
Year ago
$174m
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $153m
- Diluted EPS
- −$0.68
- Filing
- 10-Q · 10 August 2026
Sites
Company revenue · quarter ended 30 June 2026
Capital in front of a data-center build.
$8.66bn
Year ago
$8.56bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $8.66bn
- Diluted EPS
- —
- Filing
- 10-Q · 10 August 2026
Capital
Company revenue · quarter ended 30 June 2026
The investor that owns digital infrastructure.
$509m
This quarter
Company revenue. Not a data-center segment.
- Year ago
- −$3.21m
- Diluted EPS
- $1.15
- Filing
- 10-Q · 4 August 2026
Capital
Company revenue · quarter ended 30 June 2026
A pool of capital writing checks into this build.
$3.71bn
Year ago
$5.04bn
This quarter
Company revenue. Not a data-center segment.
- Year ago
- $3.71bn
- Diluted EPS
- $1.54
- Filing
- 10-Q · 7 August 2026