Applied Digital tops Q4 revenue expectations on AI data center demand

APLD Applied Digital Corp

$16.72 +7.52%

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1. 1Applied Digital (APLD) reported quarterly revenue that beat Wall Street estimates, sending shares up 5.4% in extended trading.
2. 2Revenue for the fourth quarter ended May 31 surged 407% to $258.7 million, exceeding expectations of $94.8 million, while adjusted earnings per share came in at a profit of 4 cents versus forecasts for a loss.
3. 3CEO Wes Cummins said the current infrastructure expansion is still in its early stages and noted that demand for high-density AI data centers remains very strong; the company also announced a 15-year, $5.2 billion contract at the DeltaPose 2 site in June.

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