Applied Digital Q1 revenue jumps 320%; CEO sets 20-22 month capacity timeline
Overview
Applied Digital reported first-quarter revenue up more than 320% year over year, beating estimates, yet its shares fell about 2.5% on the news.
CEO Wes Cummins said the gap between revenue growth and the stock's reaction should narrow over the next 12 months. He also said all contracted capacity is expected to come online in roughly 20 to 22 months. These are the CEO's forward-looking statements as reported by Bloomberg; the report does not show whether the timeline will be met.
Written by AI from the articles below · updated Oct 8, 9:17 PM ET
Check the sources:
Article timeline
Follow the coverage from different perspectives. Times are ET.
- Bloomberg · TechnologyApplied Digital CEO Wes Cummins Discusses First-Quarter Results
AIApplied Digital shares fell about 2.5% after first-quarter revenue rose more than 320% year over year and beat estimates. CEO Wes Cummins said the gap between revenue growth and the share reaction should narrow over the next 12 months. He expects all contracted capacity to be online in roughly 20 to 22 months.
Heat trend
Not enough continuous observations to show a trend yet.