Super Micro (NASDAQ:SMCI) shares tumble on missed sales estimates
Full story: https://grafa.com/news/super-micro--nasdaq-smci--shares-tumble-on-missed-sales-estimates-216282
Super Micro Computer (NASDAQ:SMCI) experienced a sharp decline in pre-market trading on Wednesday, with shares falling nearly 14%, following a fiscal third-quarter sales report that narrowly missed analysts' expectations.
The server manufacturer, which has recently benefited from increased demand for AI-related equipment, reported quarterly revenue of $3.85 billion, slightly below the consensus estimate of $3.86 billion.
Despite the revenue shortfall, the company outperformed profit expectations, posting earnings of $6.65 per share, surpassing the Wall Street forecast of $5.58 per share.
This earnings beat highlights the company's robust profit margins amidst growing demand for data center servers, particularly those used in artificial intelligence training and applications.
Looking ahead to the quarter ending in June, Super Micro forecasts revenue between $5.1 billion and $5.5 billion, well above the analyst expectation of $4.73 billion.
The company also anticipates earnings, excluding some items, to reach as high as $8.42 per share, significantly exceeding the average estimate of $6.97 per share.
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