Applied Digital Q3 Earnings: Revenue Misses Estimates Despite Strong Cloud Services Growth, Shares Slide

Applied Digital Corp (NASDAQ:APLD) reported third-quarter financial results after market close on Monday. Here’s a rundown of the report.

Q3 Earnings: Applied Digital reported third-quarter revenue of $52.9 million, missing analyst estimates of $63.42 million, according to Benzinga Pro. The digital infrastructure company reported a third-quarter adjusted loss of eight cents per share, beating analyst estimates for a loss of 11 cents per share.

Total revenue was up 22% on a year-over-year basis, primarily driven by the continued expansion of ...