Applied Digital Stock Jumps 3% Overnight on Record Q4 Revenue of $258.7M

According to Stocktwits, Applied Digital Corp. shares jumped 3% in overnight trading on July 28 after the company reported Q4 revenue of $258.7 million, more than four times the prior-year quarter and well above analyst expectations of $95.32 million.

CEO Wesley Cummins stated the company is actively marketing an additional 1.7 gigawatts of data center capacity across multiple states and expects this new capacity to command higher pricing, citing increased rental rates over the past six months. The company also said it signed new leases representing 1.4 gigawatts of contracted critical IT load, or approximately $36 billion in total contracted lease revenue.