Applied Digital Corp (NASDAQ:APLD) posted financial results for the first quarter of fiscal 2027 after the market close on Wednesday. Here’s a look at the key details from the report.
- Applied Digital shares are trending. What’s going on with APLD shares?
Applied Digital Q1 Earnings Highlights
Applied Digital reported first-quarter revenue of $300.39 million, beating analyst estimates of $132.16 million, according to Benzinga Pro. The digital infrastructure provider reported an adjusted loss of one cent per share for the quarter, beating estimates for a loss of 30 cents per share.
Total revenue was up 322% on a year-over-year basis. Applied Digital ended the quarter with approximately $3.7 billion in cash, cash equivalents and restricted cash, and $6.4 billion of total debt.
“Our goal is to establish Applied Digital as the category leader in the design, construction, deployment and operation of purpose-built AI factories,” said Wes Cummins, chairman and CEO of Applied Digital.
“We are building for the long term, with a clear focus on developing large-scale, sustainable AI factory campuses and securing durable, high-quality, long-term contracts with proven, tier-one, investment-grade hyperscalers that are leaders in the AI industry.”
Applied Digital management will further discuss the quarter on an earnings call at 5 p.m. ET.
APLD Shares Move After Earnings
APLD Price Action: Applied Digital shares were up 1.05% in after-hours, trading at $24.06 at the time of publication on Wednesday, according to Benzinga Pro.
Image: Shutterstock.com
Login to comment