IREN Ltd. (NASDAQ:IREN) shares are climbing Thursday as investors position ahead of the company’s fourth-quarter results, due after today’s market close.
IREN shares are climbing with conviction. What’s behind IREN gains?
IREN Heads Into Earnings After a Rough Stretch of Misses
Analysts expect IREN to report a fourth-quarter loss of 49 cents per share on revenue of $142.32 million. The company has missed revenue estimates in each of its last two quarters and in four of its last six overall, while missing earnings estimates in each of its last two quarters and five of its last seven.
If IREN were to beat both estimates today, it would mark a break from that recent pattern and could signal that the company’s shift away from bitcoin mining and into AI cloud computing is starting to show up more clearly in its reported numbers rather than just its guidance and contract announcements.
