Applied Digital (APLD) To Report Earnings Tomorrow: Here Is What To Expect

Digital infrastructure provider Applied Digital (NASDAQ:APLD) will be announcing earnings results this Thursday after the bell. Here’s what investors should know.

Applied Digital met analysts’ revenue expectations last quarter, reporting revenues of $38.01 million, down 13% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and revenue in line with analysts’ estimates.

Is Applied Digital a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Applied Digital’s revenue to decline 10.1% year on year to $54.59 million, a reversal from the 67.1% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.16 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Applied Digital has only missed Wall Street’s revenue estimates once since going public and has exceeded top-line expectations by 0.7% on average.

Looking at Applied Digital’s peers in the it services & other tech segment, only Accenture has reported results so far. It beat analysts’ revenue estimates by 1.3%, delivering year-on-year sales growth of 7.3%. The stock price was unchanged following the results.

Investors in the it services & other tech segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Applied Digital is up 97.3% during the same time and is heading into earnings with an average analyst price target of $25.11 (compared to the current share price of $27.44).

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