Digital infrastructure provider Applied Digital (NASDAQ:APLD) will be reporting results tomorrow after the bell. Here’s what to expect.

Applied Digital beat analysts’ revenue expectations by 4.3% last quarter, reporting revenues of $63.87 million, up 51.3% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EPS estimates.

Is Applied Digital a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Applied Digital’s revenue to grow 48.8% year on year to $64.48 million, slowing from the 208% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.10 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Applied Digital has missed Wall Street’s revenue estimates three times over the last two years.

With Applied Digital being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for it services & other tech stocks. However, the segment has faced declining investor sentiment as Applied Digital’s peer group is down 9% on average over the last month. Applied Digital is down 27.7% during the same time and is heading into earnings with an average analyst price target of $12.44 (compared to the current share price of $5.31).

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