Tiger Brokers

BUZZ-Applied Digital up after Q1 revenue beats estimates

Reuters
Oct 10, 2024

** Shares of data center operator Applied Digital rise 2.1% to $7.55 in volatile trading

** APLD's Q1 revenue up 67% from a year earlier to $60.7 mln vs analysts' average estimate of $54.9 mln - LSEG data

** Craig-Hallum raises PT on APLD to $12 from $10, which represents an upside of ~62% to stock's last close

** APLD posts Q1 adj loss of 15 cents per share vs estimates of 29 cents per share

** Increase in revenues was primarily driven by cloud services business segment - co

** APLD names Saidal Mohmand as its new CFO, effective Oct 14

** Up to last close, stock had risen ~10% YTD

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; ))

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