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Super Micro Computer Misses Targets, Announces 10-For-1 Stock Split
Investor's Business Daily
Data-center specialist Super Micro Computer (SMCI) late Tuesday missed analyst estimates for its fiscal fourth quarter and offered mixed guidance for the current period. But it announced a 10-for-1 stock split. SMCI stock initially jumped on the news, but later fell, in extended trading.
The San Jose, Calif.-based company, also known as Supermicro, earned an adjusted $6.25 a share on sales of $5.31 billion in the quarter ended June 30. Analysts polled by FactSet had expected Supermicro earnings of $8.12 a share on sales of $5.32 billion. On a year-over-year basis, Super Micro earnings rose 78% as sales increased 143%.
Supermicro's sales have surged as hyperscale cloud-computing companies ramp up investments in infrastructure for artificial intelligence applications.
For the current quarter, Super Micro Computer forecast adjusted earnings of $7.48 a share on sales of $6.5 billion. That's based on the midpoint of its outlook. Wall Street was modeling earnings of $7.58 a share on sales of $5.52 billion in the fiscal first quarter ending Sept. 30. In the year-earlier period, Super Micro earned an adjusted $3.43 a share on sales of $2.12 billion.
The company's board authorized a 10-for-1 split of its common stock. Supermicro expects to start trading on a split-adjusted basis on Oct. 1.
https://www.investors.com/news/technology/smci-stock-super-micro-computer-fiscal-q4-2024-earnings/