GE Vernova (GEV) shares fell as much as 4% in premarket trading Wednesday after the energy equipment giant missed analyst profit expectations for the second quarter of 2026, overshadowing a strong revenue beat and an upgraded full-year outlook.
Adjusted earnings per share came in at $2.47, well below the $3.04 consensus estimate. Revenue rose 22% year-over-year to $11.1 billion, beating the $10.73 billion forecast, driven by the Power and Electrification segments. The company also raised its full-year revenue guidance to $45.5–$46.5 billion and nearly doubled its free cash flow forecast to $11.5–$12.5 billion.
Despite the positive sales and order numbers, which surged 88% organically to $24.2 billion, the stock slid. The miss was partly attributed to a continued drag from the Wind segment, which posted an EBITDA loss of $275 million, and a warning about $100–$200 million in tariff-related costs this year.
For crypto markets, the standout figure was the $5 billion in year-to-date data center orders – more than double the full-year 2025 total. This signals massive ongoing investment in the computing infrastructure that underpins both AI and crypto mining operations. As utilities scramble to meet rising electricity demand, this could translate to more reliable and potentially cheaper power for large-scale Bitcoin mining farms in the U.S., though rising infrastructure costs might also pressure margins.
While GE Vernova's results don't directly move crypto prices, the strength in data center and electrification orders offers a macro tailwind for the broader ecosystem that increasingly relies on high-density computing power.
