Applied Digital (APLD) Reports Q1: Everything You Need To Know Ahead Of Earnings
Digital infrastructure provider Applied Digital (NASDAQ:APLD) will be announcing earnings results this Wednesday after the bell. Here’s what to look for. Applied Digital beat analysts’ revenue expectations last quarter, reporting revenues of $126.6 million, up 98.2% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue 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, the market is expecting Applied Digital’s revenue to grow 43% year on year, improving from the 22.1% increase it recorded in the same quarter last year. Applied Digital Total Revenue 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 missed Wall Street’s revenue estimates multiple times over the last two years. Looking at Applied Digital’s peers in the it services & other tech segment, only Accenture has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 8.3%. The stock traded up 2.5% on the results. Read our full analysis of Accenture’s earnings results here. Investors in the it services & other tech segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. Applied Digital is down 6.7% during the same time and is heading into earnings with an average analyst price target of $45.27 (compared to the current share price of $25.22). ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable. These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.