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Applied Digital Beats Q1 Estimates, Revenue Soars
7 Oct
Summary
- Applied Digital exceeded Q1 earnings expectations by $0.26 per share.
- The company reported Q1 revenue of $341.9M, significantly above estimates.
- Applied Digital's stock has seen a decline in the last three and twelve months.
Applied Digital recently announced its first-quarter financial results, reporting an earnings per share (EPS) of $-0.010. This figure significantly outperformed analyst expectations, which had predicted an EPS of $-0.270, marking a positive surprise of $0.26.
The company's revenue for the first quarter reached an impressive $341.9 million. This substantially exceeded the consensus estimate of $111.19 million, indicating a strong demand for its products or services.
Despite the positive earnings and revenue surprise, Applied Digital's stock has faced downward pressure. The stock price closed at $23.81 and has declined by 23.560% over the last three months and 14.780% over the past twelve months.
In terms of analyst sentiment, Applied Digital saw one positive EPS revision and zero negative revisions within the last 90 days. The company's financial health has been assessed as 'fair performance' by InvestingPro.
