Why Is Applied Digital (APLD) Stock Down 6% Today?

Core Insights - Applied Digital (NASDAQ: APLD) reported a significant earnings miss for fiscal Q3 2024, with adjusted earnings per share at -24 cents, compared to the expected -7 cents and a prior year result of -1 cent [1] - The company's revenue for the quarter was $43.35 million, falling short of analysts' expectations of $51.92 million, although it represented a 208% increase year-over-year from $14.09 million [1][2] Financial Performance - Adjusted earnings per share: -24 cents vs. expected -7 cents and -1 cent from the previous year [1] - Revenue: $43.35 million vs. expected $51.92 million, but up 208% year-over-year from $14.09 million [1][2] Stock Market Reaction - APLD stock fell 5.5% following the earnings report, contributing to a year-to-date decline of 55.9% as of the previous day's close [3] - Trading volume was approximately 216,000 shares, significantly below the daily average of about 3.5 million shares [3]