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Applied Digital Beats Quarterly Revenue Estimates on AI Data Center Demand, Shares Jump
Applied Digital beat Q2 revenue estimates with $126.6M and posted adjusted EBITDA of $20.2M, driven by strong leasing and a $5 billion AI factory lease.
- For the fiscal second quarter ended November 30, Applied Digital Corp. reported $126.6 million revenue, beating analysts' estimate of $88 million, and booked a $5 billion AI factory lease, 15-year.
- Applied Digital's segment results showed HPC Hosting generated $85 million and Data Center Hosting $41.6 million this quarter, supported by a $2.35 billion senior secured private notes offering and a $900 million preferred equity draw from Macquarie Asset Management.
- Profitability measures improved with zero cents per share EPS beating a 10-cent loss, adjusted EBITDA of $20.2 million, and adjusted net income of $100,000 for the quarter.
- According to Benzinga Pro, Applied Digital shares rose 4.84% to $30.99 in Wednesday's extended trading and were up 4.7% in premarket trading as of 8 a.m. ET amid advanced discussions with a major hyperscaler.
- Applied Digital said it now expects to exceed its $1 billion net operating income target within the next five years, supported by a multi-gigawatt pipeline and a 400-megawatt allocation.
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Key PointsAES is a utility company that provides energy solutions for residential customers and hyperscalers.While Applied Digital has fewer gigawatts, it also produces artificial intelligence (AI) data centers, which is a critical difference.Applied Digital strengthened its balance sheet by raising funds that will be used to complete AI data center projects, opening the doors to more lucrative deals in the future.10 stocks we like better than A…
·Alexandria, United States
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Applied Digital beats quarterly revenue estimates on AI data center demand, shares jump
Applied Digital reported second-quarter revenue above Wall Street estimates on Wednesday, as the data center operator benefited from strong demand for its large-scale facilities for artificial intelligence workloads.
·United Kingdom
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Total News Sources11
Leaning Left2Leaning Right1Center2Last UpdatedBias Distribution40% Left, 40% Center
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
40% Center
L 40%
C 40%
R 20%
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