Applied Digital (NASDAQ:APLD) shares are trading higher after the company reported fourth-quarter financial results Wednesday after market close.
APLD stock is on the move, climbing higher. See real-time price here.
What Happened: Applied Digital reported fourth-quarter revenue of $38.01 million, up 41% year-over-year. The revenue total missed a Street consensus estimate of $40.84 million according to data from Benzinga Pro.
The company’s revenue came mainly from its Data Center Hosting Business, which operates data centers to provide space for crypto mining customers. The company’s 106 megawatt and 180 megawatt facilities in North Dakota were operating at full capacity in the quarter.
Applied Digital said demand for these services “remains robust” with Bitcoin (CRYPTO: BTC) prices hitting all-time highs.
The company reported a loss of 3 cents per share, …