Applied Digital Narrows 1Q Loss on Higher Revenue

Dow Jones

10 Oct 2024

By Connor Hart

Applied Digital narrowed its net loss as revenue surged in its fiscal first quarter boosted by the company's cloud services unit.

The Dallas-based digital infrastructure company reported a net loss of $4.3 million, or 3 cents a share, for its three months ended Aug. 31, compared with a loss of $11.5 million, or 11 cents a share, in the same quarter a year ago.

On an adjusted basis, the company posted a loss of 15 cents a share. Analysts polled by FactSet had expected a per-share loss of 27 cents.

Revenue surged 67% to $60.7 million, beating the $54.8 million that Wall Street forecast, according to FactSet. This increase was primarily driven by the company's cloud services unit, which launched service at the end of its previous fiscal year.

Chief Executive Wes Cummins said the company's goal is to be capable of building and operating multiple high-performance computing data centers.

He added the company is finalizing a lease agreement with a U.S.-based hyperscaler for a 100 megawatt facility that is currently under construction and has been designed for high-performance computing applications, such as artificial intelligence. The company is designing two additional buildings at the site, set to increase total capacity to 400 megawatts.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

October 09, 2024 16:29 ET (20:29 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2474799201"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2474799201\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2474799201?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-10 04:29","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2474799201","market":"other","top_or_hot":-1,"title":"Applied Digital Narrows 1Q Loss on Higher Revenue","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Connor Hart \n</p>\n<p>\n  Applied Digital narrowed its net loss as revenue surged in its fiscal first quarter boosted by the company's cloud services unit. \n</p>\n<p>\n  The Dallas-based digital infrastructure company reported a net loss of $4.3 million, or 3 cents a share, for its three months ended Aug. 31, compared with a loss of $11.5 million, or 11 cents a share, in the same quarter a year ago. \n</p>\n<p>\n  On an adjusted basis, the company posted a loss of 15 cents a share. Analysts polled by FactSet had expected a per-share loss of 27 cents. \n</p>\n<p>\n  Revenue surged 67% to $60.7 million, beating the $54.8 million that Wall Street forecast, according to FactSet. This increase was primarily driven by the company's cloud services unit, which launched service at the end of its previous fiscal year. \n</p>\n<p>\n  Chief Executive Wes Cummins said the company's goal is to be capable of building and operating multiple high-performance computing data centers. \n</p>\n<p>\n  He added the company is finalizing a lease agreement with a U.S.-based hyperscaler for a 100 megawatt facility that is currently under construction and has been designed for high-performance computing applications, such as artificial intelligence. The company is designing two additional buildings at the site, set to increase total capacity to 400 megawatts. \n</p>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 09, 2024 16:29 ET (20:29 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Applied Digital Narrows 1Q Loss on Higher Revenue</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApplied Digital Narrows 1Q Loss on Higher Revenue\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-10 04:29</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Connor Hart \n</p>\n<p>\n  Applied Digital narrowed its net loss as revenue surged in its fiscal first quarter boosted by the company's cloud services unit. \n</p>\n<p>\n  The Dallas-based digital infrastructure company reported a net loss of $4.3 million, or 3 cents a share, for its three months ended Aug. 31, compared with a loss of $11.5 million, or 11 cents a share, in the same quarter a year ago. \n</p>\n<p>\n  On an adjusted basis, the company posted a loss of 15 cents a share. Analysts polled by FactSet had expected a per-share loss of 27 cents. \n</p>\n<p>\n  Revenue surged 67% to $60.7 million, beating the $54.8 million that Wall Street forecast, according to FactSet. This increase was primarily driven by the company's cloud services unit, which launched service at the end of its previous fiscal year. \n</p>\n<p>\n  Chief Executive Wes Cummins said the company's goal is to be capable of building and operating multiple high-performance computing data centers. \n</p>\n<p>\n  He added the company is finalizing a lease agreement with a U.S.-based hyperscaler for a 100 megawatt facility that is currently under construction and has been designed for high-performance computing applications, such as artificial intelligence. The company is designing two additional buildings at the site, set to increase total capacity to 400 megawatts. \n</p>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 09, 2024 16:29 ET (20:29 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\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":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2474799201","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474799201","pubTimestamp":1728505740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Applied Digital narrowed its net loss as revenue surged in its fiscal first quarter boosted by the company's cloud services unit.The Dallas-based digital infrastructure company reported a net loss of $4.3 million, or 3 cents a share, for its three months ended Aug. 31, compared with a loss of $11.5 million, or 11 cents a share, in the same quarter a year ago.On an adjusted basis, the company posted a loss of 15 cents a share. Analysts polled by FactSet had expected a per-share loss of 27 cents.Revenue surged 67% to $60.7 million, beating the $54.8 million that Wall Street forecast, according to FactSet. This increase was primarily driven by the company's cloud services unit, which launched service at the end of its previous fiscal year.Chief Executive Wes Cummins said the company's goal is to be capable of building and operating multiple high-performance computing data centers.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"APLD":"APPLIED DIGITAL CORP"},"translate_title":"Applied Digital因收入增加而缩小第一季度亏损","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"APLD":0.9},"content_text":"By Connor Hart \n\n\n  Applied Digital narrowed its net loss as revenue surged in its fiscal first quarter boosted by the company's cloud services unit. \n\n\n  The Dallas-based digital infrastructure company reported a net loss of $4.3 million, or 3 cents a share, for its three months ended Aug. 31, compared with a loss of $11.5 million, or 11 cents a share, in the same quarter a year ago. \n\n\n  On an adjusted basis, the company posted a loss of 15 cents a share. Analysts polled by FactSet had expected a per-share loss of 27 cents. \n\n\n  Revenue surged 67% to $60.7 million, beating the $54.8 million that Wall Street forecast, according to FactSet. This increase was primarily driven by the company's cloud services unit, which launched service at the end of its previous fiscal year. \n\n\n  Chief Executive Wes Cummins said the company's goal is to be capable of building and operating multiple high-performance computing data centers. \n\n\n  He added the company is finalizing a lease agreement with a U.S.-based hyperscaler for a 100 megawatt facility that is currently under construction and has been designed for high-performance computing applications, such as artificial intelligence. The company is designing two additional buildings at the site, set to increase total capacity to 400 megawatts. \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 09, 2024 16:29 ET (20:29 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}