Shares of Applied Digital APLD, +2.68% fell after the company’s revenue missed estimates following a power outage.
The stock was down 7.5% to $2.84 in after-hours trading Thursday, following a 2.7% rise at the close. Shares are down 54% since the start of the year.
The Dallas-based digital infrastructure company’s revenue more than tripled from a year earlier to $43.3 million. Still, that fell short of the $49.9 million expected by analysts polled by FactSet.
Applied Digital posted a loss of $62.8 million, or 52 cents a share, in the quarter ended Feb. 29, compared with a loss of $7 million, or seven cents a share, a year earlier.
The company reported in February it had experienced a power outage at its Ellendale, N.D., data-center hosting site. The company expected the outage to materially affect revenue for the fiscal quarter.