Applied Digital Corporation APLD shares are experiencing a decline along with other tech stocks amid the weakness observed in Netflix and Tesla following the release of their respective quarterly reports.
What To Know: Netflix reported quarterly earnings of $3.29 per share, versus the analyst consensus estimate of $2.85, a 2.81% increase over earnings of $3.20 per share from the same period last year. The company reported quarterly sales of $8.19 billion, versus the analyst consensus estimate of $8.29 billion, a 2.72% increase over sales of $7.97 billion the same period last year. The mixed results were accompanied by soft third quarter sales guidance.
Tesla reported quarterly earnings of 91 cents per share, versus the analyst consensus estimate of 82 cents, a 19.74% increase over earnings of $0.76 per share from the same period last year. The company reported quarterly sales of $24.93 billion, versus the analyst consensus estimate of $24.48 billion, a 47.20% increase over sales of $16.93 billion the same period last year. Second quarter total production came in at 479,700, up 86% year over year while total deliveries were up 83% year over year at 466,140.
Applied Digital is set to report fourth quarter earnings in four days on July 24. The company is expected to lose four cents per share, with revenue estimated at $29.57 million.
Related Link: AMC Entertainment Stock Is Trading Lower Thursday: What's Going On?
APLD Price Action: Shares of APLD were down 8.21% at $7.71 at the time of publication, according to Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
