by Luzi Ann Santos | moomoo News
$Marathon Digital (MARA.US)$ shares slipped in after-market trading as the company reported first quarter revenue that missed analysts' estimates.
Revenue rose 223% to $165.2 million in the three months ended March 31, the digital asset technology company said in its earnings release after the market closed Thursday. Still, that trailed the average analyst estimate of $180.69 million.
The revenue miss overshadowed its earnings which reached $1.26 per share. That surpasses the 22-cent average estimate for EPS from analysts polled by Ibes, according to Reuters.
The company's bitcoin production rose 28% to 2,811 in the first quarter from a year ago, it said in a press release. Hash rate target grew 100% to 50 EH/s, it said.
The company reported that adjusted earnings before interest, taxes, depreciation and amortization climbed 266% to a record $528.8 million.