Applied Digital Corp reports results for the quarter ended May 31 - Earnings Summary

• Applied Digital Corp APLD reported a quarterly adjusted loss of 24 cents​​ per share for the quarter ended May 31, higher than the same quarter last year, when the company reported EPS of -52 cents. The mean expectation of nine analysts for the quarter was for a loss of 15 cents per share. Wall Street expected results to range from -31 cents to -5 cents per share.

• Revenue fell 13% to $38.01 million from a year ago; analysts expected $37.14 million.

• Applied Digital Corp's reported EPS for the quarter was a loss of 24 cents​.

• The company reported a quarterly loss of $53.94 million.

• Applied Digital Corp shares had risen by 0.5% this quarter and gained 32.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.8% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the blockchain & cryptocurrency peer group is also "buy"

• Wall Street's median 12-month price target for Applied Digital Corp is $14.00, about 27.7% above its last closing price of $10.12

This summary was machine generated from LSEG data July 30 at 09:55 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)