Nebius Group N.V. (NBIS), a Dutch AI cloud company, reported Wednesday a profit in its first quarter compared to prior year's loss, benefited by a one time gain and significantly higher revenues.
In the pre-market activity on Nasdaq, the shares were climbing around 15.89 percent to trade at $207.57, after closing Tuesday's regular trading 3.8 percent lower.
In the first quarter, net income was $621.2 million or $2.11 per share, compared to prior year's loss of $113.5 million or $0.48 per share.
On a continuing operations basis, prior year's loss was $104.3 million or $0.44 per share.
The latest result was benefited by a gain from revaluation of investments in equity securities of $780.6 million.
Adjusted net loss widened to $100.3 million from loss of $83.6 million last year.
Loss from operations widened to $128.0 million from loss of $120.3 million in the prior year, as total operating costs and expenses surged 208 percent year-over-year to $527.0 million.
Adjusted EBITDA was $129.5 million, compared to prior year's loss of $53.7 million.
Revenues for the quarter surged 684 percent to $399.0 million from last year's $50.9 million.
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