Shares in Applied Digital are advancing premarket, shrugging off a widening loss in its most recent quarter.
That's because the data-center company reported a more than fourfold revenue increase on the back of compute demand from AI hyperscalers.
Analysts had been expecting $116.3 million in revenue, up from $80.9 million a year prior. It came in at $341.9 million.
Applied Digital shares rose more than 3% ahead of the bell.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.