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Super Micro Sales Outlook Misses Estimates, Cannot Predict Timing of Annual Filing

The delisting crisis of ultramicro computers intensifies

Super Micro Computer's shares fell sharply after its sales guidance fell short of expectations and it was impossible to predict when it would release its official financial statements for the last fiscal year. The company is at risk of being delisted from the Nasdaq, and the share price has dropped more than 75%.

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The company is at risk of being delisted from the Nasdaq, and the share price has dropped more than 75%."}],"images":[],"coverImages":[],"html":"<html><head></head><body><p>RUN!! 😱😱😱</p></body></html>","htmlText":"<html><head></head><body><p>RUN!! 😱😱😱</p></body></html>","text":"RUN!! 😱😱😱","highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/368152317231136","repostId":2481659025,"repostType":4,"repost":{"id":"2481659025","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1730904686,"share":"https://www.laohu8.com/m/news/2481659025?lang=&edition=full","pubTime":"2024-11-06 22:51","market":"us","language":"en","title":"Super Micro Sales Outlook Misses Estimates, Cannot Predict Timing of Annual Filing","url":"https://stock-news.laohu8.com/highlight/detail?id=2481659025","media":"Reuters","summary":"Nov 5 (Reuters) - Super Micro Computer, whose auditor unexpectedly stepped down last week, on Tuesday flagged uncertainty about the timing of its annual report but said a probe about accounting practi","content":"<html><head></head><body><p>Nov 5 (Reuters) - Super Micro Computer, whose auditor unexpectedly stepped down last week, on Tuesday flagged uncertainty about the timing of its annual report but said a probe about accounting practices had not found evidence of fraud by the company.</p><p>Shares of the San Jose, California-based server maker fell over 25% in morning trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/36df3c8db39254649644508db7ce306c\" tg-width=\"770\" tg-height=\"833\"/></p><p>The company said it expects net sales between $5.5 billion to $6.1 billion for the second quarter, compared with analysts&#39; estimates of $6.86 billion, according to data compiled by LSEG.</p><p>It said the company expects profits between 48 cents and 58 cents per share, far below estimates of 75 cents per share.</p><p>Super Micro has also become a key supplier to specialty cloud computing providers such as CoreWeave that focus on providing chips from Nvidia for artificial intelligence work.</p><p>Its preliminary results come less than a week after Ernst &amp; Young had resigned as its auditor, triggering investor concerns about accounting practices at the firm.</p><p>The special committee probe related to issues raised by EY over the company&#39;s governance, transparency and internal control over financial reporting.</p><p>Super Micro was not in compliance with Nasdaq&#39;s listing rules after it delayed filing its annual report with the US securities regulator in August, risking being delisted.</p><p>Nasdaq regulations provide a grace period until mid-November for the company to submit a remediation plan to regain compliance.</p><p>If approved, this could extend the deadline to February next year. 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuper Micro Sales Outlook Misses Estimates, Cannot Predict Timing of Annual Filing\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-11-06 22:51</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Nov 5 (Reuters) - Super Micro Computer, whose auditor unexpectedly stepped down last week, on Tuesday flagged uncertainty about the timing of its annual report but said a probe about accounting practices had not found evidence of fraud by the company.</p><p>Shares of the San Jose, California-based server maker fell over 25% in morning trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/36df3c8db39254649644508db7ce306c\" tg-width=\"770\" tg-height=\"833\"/></p><p>The company said it expects net sales between $5.5 billion to $6.1 billion for the second quarter, compared with analysts&#39; estimates of $6.86 billion, according to data compiled by LSEG.</p><p>It said the company expects profits between 48 cents and 58 cents per share, far below estimates of 75 cents per share.</p><p>Super Micro has also become a key supplier to specialty cloud computing providers such as CoreWeave that focus on providing chips from Nvidia for artificial intelligence work.</p><p>Its preliminary results come less than a week after Ernst &amp; Young had resigned as its auditor, triggering investor concerns about accounting practices at the firm.</p><p>The special committee probe related to issues raised by EY over the company&#39;s governance, transparency and internal control over financial reporting.</p><p>Super Micro was not in compliance with Nasdaq&#39;s listing rules after it delayed filing its annual report with the US securities regulator in August, risking being delisted.</p><p>Nasdaq regulations provide a grace period until mid-November for the company to submit a remediation plan to regain compliance.</p><p>If approved, this could extend the deadline to February next year. However, the recent departure of EY adds a layer of complexity to this compliance restoration process.</p><p>Though Super Micro has been gaining traction in the server industry, larger rivals Dell Technologies and HP Enterprise have been able to leverage their vast customer base to boost sales, analysts have said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","LU1861215975.USD":"贝莱德新一代科技基金 A2","SMCI":"超微电脑","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4170":"电脑硬件、储存设备及电脑周边","BK4585":"ETF&股票定投概念","BK4588":"碎股"},"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2481659025","content_text":"Nov 5 (Reuters) - Super Micro Computer, whose auditor unexpectedly stepped down last week, on Tuesday flagged uncertainty about the timing of its annual report but said a probe about accounting practices had not found evidence of fraud by the company.Shares of the San Jose, California-based server maker fell over 25% in morning trading.The company said it expects net sales between $5.5 billion to $6.1 billion for the second quarter, compared with analysts' estimates of $6.86 billion, according to data compiled by LSEG.It said the company expects profits between 48 cents and 58 cents per share, far below estimates of 75 cents per share.Super Micro has also become a key supplier to specialty cloud computing providers such as CoreWeave that focus on providing chips from Nvidia for artificial intelligence work.Its preliminary results come less than a week after Ernst & Young had resigned as its auditor, triggering investor concerns about accounting practices at the firm.The special committee probe related to issues raised by EY over the company's governance, transparency and internal control over financial reporting.Super Micro was not in compliance with Nasdaq's listing rules after it delayed filing its annual report with the US securities regulator in August, risking being delisted.Nasdaq regulations provide a grace period until mid-November for the company to submit a remediation plan to regain compliance.If approved, this could extend the deadline to February next year. 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