Stock Track | Applied Digital Soars After Upbeat Q1 Results, Expansion Plans for AI Computing

Stock Track

Oct 10, 2024

Shares of Applied Digital Corp (APLD) surged over 5% in after-hours trading on Monday, following the company's better-than-expected fiscal first-quarter 2025 results and an update on its growth initiatives in the high-performance computing and artificial intelligence space.

The digital infrastructure company reported an adjusted loss of $0.15 per share for the quarter ended August 31, narrower than the analysts' estimate of a $0.29 loss. Revenue jumped 67% year-over-year to $60.7 million, surpassing expectations of $54.8 million. The strong revenue growth was driven by the launch of Applied Digital's cloud services business at the end of the previous fiscal year.

Applied Digital also announced a strategic $160 million private placement financing deal with institutional investors, NVIDIA, and Related Companies, a leading real estate firm specializing in data center development. The company said it plans to utilize the funds to fuel its expansion in the accelerated computing space.

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Revenue jumped 67% year-over-year to $60.7 million, surpassing expectations of $54.8 million. The strong revenue growth was driven by the launch of Applied Digital's cloud services business at the end of the previous fiscal year.</p>\n\n<p>Applied Digital also announced a strategic $160 million private placement financing deal with institutional investors, NVIDIA, and Related Companies, a leading real estate firm specializing in data center development. The company said it plans to utilize the funds to fuel its expansion in the accelerated computing space.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"APLD","symbol_name":"APPLIED DIGITAL CORP","start_time":0,"source_url":"","article_id":"1143460127","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1143460127","pubTimestamp":1728505974,"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 Applied Digital Corp  surged over 5% in after-hours trading on Monday, following the company's better-than-expected fiscal first-quarter 2025 results and an update on its growth initiatives in the high-performance computing and artificial intelligence space.The digital infrastructure company reported an adjusted loss of $0.15 per share for the quarter ended August 31, narrower than the analysts' estimate of a $0.29 loss. 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