Applied Digital Beats Estimates; Tigo Energy Sees Below-Consensus Revenue
- October 09th, 2023
- 628 views
Applied Digital Corporation (Nasdaq: APLD) reported first-quarter fiscal 2024 adjusted earnings of less than $0.01 per share, beating the consensus estimate loss of $(0.02). The company posted quarterly sales of $36.30 million, exceeding analysts' expectations of $34.58 million in revenue.
For the full-year fiscal 2024, Applied Digital reaffirms its previously announced guidance of total revenue in the range of $385 million to $405 million, compared to the consensus estimate of $360.86 million in revenue for the period.
$APLD was trading at $5.68 in pre-market, reflecting an increase of $0.51 (+9.86%).
In other news, Tigo Energy, Inc. (Nasdaq: TYGO) has adjusted its third-quarter fiscal 2023 revenue guidance, revising it down to a range of $17 million to $18 million. This is a significant reduction from its previous forecast of $41 million to $45 million. Analysts had previously anticipated revenue of $43.3 million for the same period.
In pre-market, $TYGO was trading at $6.10, down $1.35 (-18.12%).
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