APLD - Why Are Applied Digital Shares Falling Today? | Benzinga
Applied Digital Corporation (NASDAQ:APLD) shares are trading lower after the company reported worse-than-expected third-quarter FY24 financial results.
Revenue of $43.3 million, up 208% Y/Y, missed the consensus of $51.9 million.
Revenues benefited from an increased capacity across the three datacenter hosting facilities and revenue recognition from its Cloud services segment (which began providing service during this year).
Adjusted EBITDA loss came in at $(2.3) million compared to an adjusted EBITDA of $0.9 million ...