NBIS is trading at $198.56 (+10.86%) after the company reported spectacular first-quarter financial results that significantly beat Wall Street expectations.
- The company announced Q1 revenue of $399 million, a surge of 684% year-over-year, beating analyst estimates by over $10 million.
- Earnings per share also surprised investors, with an adjusted loss of just $0.23 per share, far better than the consensus estimate for a loss of around $0.70-$0.81 per share.
- The explosive growth was driven by its AI cloud business, which saw revenue jump 841% from the prior year as demand for AI infrastructure continues to exceed capacity.