What's Going On With Applied Digital Stock?
Portfolio Pulse from Erica Kollmann
Applied Digital Corporation (NASDAQ:APLD) reported Q4 and full year 2023 financial results, missing revenue estimates but beating EPS estimates. The company reported Q4 revenue of $22 million, missing the analyst consensus estimate of $29.57 million by 25.60 percent, but marking a 192.44% increase over the same period last year. The company also reported a Q4 adjusted loss per share of less than $0.01, beating the analyst consensus estimate of $(0.04) by 75%. Shares of APLD are trading higher on above-average volume.
July 24, 2023 | 2:12 pm
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Applied Digital's Q4 and FY 2023 results missed revenue estimates but beat EPS estimates. Despite the revenue miss, the stock is trading higher, possibly due to the EPS beat and the significant YoY revenue growth.
Applied Digital's stock is trading higher despite missing revenue estimates, which could be due to the company beating EPS estimates and reporting significant YoY revenue growth. This suggests that investors may be focusing more on the company's profitability and growth rather than the revenue miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100