Super Micro Stock Tumbles on Big Earnings Miss
Super Micro Computer reported disappointing preliminary results for its fiscal third quarter, expecting revenue between $4.5 billion and $4.6 billion, significantly below the $5.4 billion consensus estimate. Adjusted earnings per share are projected at 29 to 31 cents, compared to the 53 cents expected by analysts. Following this announcement, Super Micro's stock dropped as much as 17%.
By Tae Kim
Super Micro Computer had a rough quarter.
Late Tuesday, the AI server maker announced preliminary results for its fiscal third quarter ending in March.
Super Micro now expects revenue for the quarter in a range of $4.5 billion to $4.6 billion versus a $5.4 billion consensus estimate from analysts, according to FactSet. Adjusted earnings per share will be in a range of 29 cents to 31 cents, versus the 53 cents analysts' estimate.
Super Micro shares fell as much as 17% following the release.
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Write to Tae Kim at tae.kim@barrons.com
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