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via finance.yahoo.comBusiness & Companies

IREN jumps 15% despite delay to $4 billion ARR target

FROM THE WIRE · FINANCE.YAHOO.COM

This article first appeared on GuruFocus. IREN Limited (NASDAQ:IREN) rose 15.30% as of 9:35 a.m. ET after it reported fiscal first-quarter revenue up 66% sequentially to $228 million, roughly in line with analysts' consensus of $228.26 million. AI cloud revenue rose 182% to $200…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishQuarterly results in line with consensus and strong AI cloud growth explain the stock's rally.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01First fiscal quarter revenue rose 66% sequentially to $228 million, in line with consensus.
  2. 02AI cloud revenue rose 182% to $200 million as the Horizon 1 data center went into service for Microsoft.
  3. 03The net loss narrowed to $263 million from $684 million.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
IREN LimitedIRENStock21.61 USD+1.95%today +19.88%Positive Microsoft CorporationMSFTStock532.01 USD-0.14%today -0.73%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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