financetom
Business
financetom
/
Business
/
Applied Digital misses quarterly revenue estimate amid power disruption at data center
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Applied Digital misses quarterly revenue estimate amid power disruption at data center
Apr 11, 2024 1:52 PM

April 11 (Reuters) - Data-center services provider

Applied Digital ( APLD ) missed Wall Street estimates for

third-quarter revenue on Thursday, pressured by a power

disruption at its Ellendale data center unit in January.

Shares of the Dallas, Texas-based company fell 14% in

aftermarket trading.

In February, Applied Digital ( APLD ) said revenue from its Ellendale

data center hosting facility would take a hit in the third

quarter, after it began experiencing a power outage on Jan. 18,

resulting in complete outage the following day.

"During the quarter, Applied Digital ( APLD ) encountered several

challenges that impacted our financial performance due to

facility power outages in our datacenter hosting business" said

Wes Cummins, CEO of Applied Digital ( APLD ).

The company posted revenue of $43.3 million for the quarter

ended Feb. 29, compared with analysts' average estimate of

$51.92 million, according to LSEG data.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved