Applied Digital Q2 2024 Adj EPS $(0.05) Misses $0.01 Estimate, Sales $42.20M Miss $57.31M Estimate
Portfolio Pulse from Benzinga Newsdesk
Applied Digital (NASDAQ: APLD) reported Q2 2024 adjusted EPS of $(0.05), missing the $0.01 estimate, and sales of $42.20M, falling short of the $57.31M estimate. Despite the miss, sales grew 241.98% from $12.34M in the same period last year.
January 16, 2024 | 1:02 pm
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Applied Digital's Q2 2024 earnings and sales missed analyst estimates, which could negatively impact investor sentiment and the stock price in the short term.
Missing both EPS and revenue estimates typically leads to negative investor sentiment, which can result in a decrease in stock price. Although there was significant year-over-year sales growth, the miss on expectations is likely to weigh more heavily on the stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100