Nebius Group (NBIS) reported Tuesday a Q1 adjusted net loss of $92.5 million, widening from a loss of $77.6 million a year earlier.

Revenue for the quarter ended March 31 was $55.3 million, up from $11.4 million a year earlier.

Analysts surveyed by FactSet expected $57.7 million.

Shares of the AI infrastructure company were up more than 7% in recent trading.

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