Applied Digital Says 'Due to the delayed delivery of certain networking components for GPU clusters, we now expect our revenue and EBITDA to be below the low end of our previously guided range for fiscal year 2024'
Portfolio Pulse from Benzinga Newsdesk
Applied Digital (APLD) has announced that due to delayed delivery of networking components for GPU clusters, the company's revenue and EBITDA for fiscal year 2024 will be below the previously guided range.
January 16, 2024 | 1:03 pm
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Applied Digital expects FY2024 revenue and EBITDA to fall below its previously guided range because of delayed delivery of networking components for GPU clusters.
The announcement directly pertains to Applied Digital's financial performance, indicating a negative impact on future earnings. This is likely to concern investors and could lead to a decrease in stock price in the short term as the market adjusts to the new, lower expectations for the company's financial health.
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