On July 28, APPLIED DIGITAL CORP rose 5.59% in pre-market trading, trading at $27.65/share, with turnover of $8.802 million. The rally follows the company's Q4 fiscal year earnings report released after market close the prior session, which dramatically exceeded analyst expectations.

The company reported adjusted earnings per share of $0.04, beating the consensus estimate of -$0.22 by over 118%. Quarterly revenue came in at $258.748 million, far surpassing the $94.836 million estimate. Full fiscal year revenue reached $6.113 billion, representing 167% year-over-year growth. During the quarter, the company completed a $2.15 billion senior secured notes private placement and secured up to $550 million in revolving credit facilities.

The stock had declined over 5% intraday prior to earnings, pressured by Morgan Stanley initiating coverage with an Equalweight rating and broader AI data center sector weakness. The earnings beat removed market uncertainty, while fundamental support from a previously signed $5.2 billion hyperscaler lease and robust financing activities drove the pre-market rebound.

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