Applied Digital Corp reports results for the quarter ended May 31

• Applied Digital Corp APLD reported an adjusted loss of 52 cents per share for the quarter ended May 31, less than the same quarter a year ago when the company reported earnings per share of -7 cents. The average expectation of seven analysts for the quarter was a loss of 22 cents per share. Wall Street expected results between -28 and -17 cents per share.

• Revenue increased 98.3% year-on-year to $43.70 million; analysts had expected $37.61 million.

• Applied Digital Corp. reported earnings per share for the quarter were 52 cents.

• The company reported a quarterly loss of $64.76 million.

• Applied Digital Corp shares fell 20.5% this quarter and are down 29.8% year to date.

FORECAST CHANGES

• Analysts’ average earnings estimate had risen by about 14.3 percent over the past three months.

• In the last 30 days, one analyst has revised his earnings forecast downwards

RECOMMENDATIONS

• The current average analyst rating of the stock is “Buy” and the breakdown of recommendations is 7 “Strong Buy” or “Buy”, no “Hold” and no “Sell” or “Strong Sell”.

• The average consensus recommendation for the blockchain and cryptocurrency peer group is also “Buy.”

Wall Street’s median 12-month price target for Applied Digital Corp is $10.00

This summary was machine-generated from LSEG data as of August 28 at 21:01 UTC. All figures in US dollars unless otherwise stated. (For questions about the data in this report, contact [email protected]. For other questions or feedback, contact [email protected])