IREN Beats Q1 Estimates: What To Know

Benzinga
Nov 07

IREN Limited (NASDAQ:IREN) shares were up after the company released its first-quarter earnings report after Thursday's closing bell, beating estimates on the top and bottom lines. 

Here's a look at the details in the report. 

  • IREN stock is moving. See the real-time price action here.

The Details: IREN reported quarterly earnings of $1.08 per share, which beat the consensus estimate of 14 cents.

Quarterly revenue came in at $240.3 million, which beat the Street estimate of $235.5 million and was up from revenue of $49.57 million from the same period last year.

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“IREN continues to execute with discipline, delivering record results this quarter and meaningful progress in our AI Cloud expansion,” said Daniel Roberts, co-CEO of IREN.

“We secured several new multi-year contracts, including a landmark partnership with Microsoft, which solidifies IREN’s position as a leading AI Cloud Service Provider and expands our reach into new hyperscale customer segments,” Roberts added.

IREN Stock Price: According to data from Benzinga Pro, IREN stock was up 3.58% at $69.65 in Thursday's extended trading. 

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Photo: Shutterstock

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