IREN Stock Near $18.3 Before Tonight’s Q1 Results as…
By Abdelaziz Fathi
AI summary of the source article
IREN shares fell toward $18.30 ahead of fiscal first-quarter earnings amid concerns over reported Texas data-center delays affecting revenue from Microsoft. Analysts project quarterly revenue between $219.95 million and $229.81 million.
Why it matters
The sequential revenue comparison matters because the June quarter "still reflected IREN's transition away from Bitcoin mining and toward AI cloud services."
Key facts
- IREN stock dropped toward $18.30 on Thursday after closing down 11.24% at $21.71 on Wednesday.
- Analyst consensus projects fiscal Q1 revenue between $219.95 million and $229.81 million, compared to $137.2 million in fiscal Q4.
- Reports indicated delays at IREN's Childress campus contributed to Microsoft spending less on data-center capacity than expected in the September quarter.
Source excerpt · FinanceFeeds
IREN stock fell toward $18.30 on Thursday ahead of fiscal first-quarter results due after the closing bell, extending an 11.24% decline from the previous session as investors added a new concern to an already difficult earnings setup: whether delays at the company's Texas data-center campus are affecting the timing of revenue from Microsoft. IREN closed Wednesday at $21.71, down $2.75, or 11.24%.…