Reported about 1 month ago
Applied Digital, a data center operator, reported a fourth-quarter loss that exceeded expectations, mainly due to high expenses for facilities and equipment that have yet to yield revenue. This led to a 13% drop in shares after the announcement. The company posted an adjusted loss of $45.3 million, attributed in part to $15.5 million of expenses. Despite reporting revenues of $43.7 million, which surpassed estimates, the net loss widened significantly from the previous year.
Source: YAHOO