# Neocloud firm IREN tops quarterly revenue estimates, shares jump

- URL: https://talkfuse.com/story/neocloud-firm-iren-tops-quarterly-revenue-estimates-shares-jump/
- Published: 2026-11-05T21:35:43+00:00
- Updated: 2026-11-05T22:43:07+00:00
- Original publisher: CNA (publisher lean: Centre)
- Original article: https://www.channelnewsasia.com/business/neocloud-firm-iren-tops-quarterly-revenue-estimates-shares-jump-6529076
- Topics: Business, Markets, World

## Key points

- IREN’s quarterly revenue topped estimates at US$228 million.
- AI cloud revenue climbed to US$200 million.
- Microsoft design changes delayed IREN’s US$4 billion run-rate target.

## Summary

IREN beat analysts’ quarterly revenue expectations as its AI cloud business grew sharply, sending its shares up more than 4 per cent in volatile after-hours trading. However, changes requested by Microsoft to a data centre network design delayed some infrastructure deliveries and pushed back IREN’s timetable for reaching its annualised revenue target.

IREN said the changes would not bring financial penalties, but its target of more than US$4 billion in annualised run-rate revenue has shifted from year-end to January, and could slip to the end of February. For the quarter ended 30 September, total revenue was US$228 million, above the US$221.28 million analysts had expected; AI cloud revenue rose to US$200 million from US$71 million in the previous quarter. IREN cited contracts with Nvidia, Microsoft and 13 other customers, with about two-thirds of its revenue backlog linked to investment-grade counterparties.

---
Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.