Super Micro Stock Tumbles 13% After Earnings Disappointment. Shares Plummet 13%.

Benzinga
Benzinga
  • last month
Super Micro Computer announced fiscal fourth-quarter earnings that missed analyst expectations, sending shares plunging 13%. Gross margin dropped to 11% from 17% in the year-ago quarter and 15% in the previous quarter. The company announced a 10-for-1 stock split, with shares set to begin trading on a split-adjusted basis on October 1st. Revenue met estimates, but earnings per share were lower than expected. The server company expects first-quarter revenue above estimates and earnings per share below estimates. Shares have surged in recent years on bets the company will benefit from Nvidia's AI-focused graphics cards powering more servers.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Supermicro Computer announced fiscal fourth quarter earnings that missed analysts' expectations,
00:07sending shares plunging 13%.
00:10Gross margin dropped to 11% from 17% in the year-ago quarter and 15% in the previous quarter.
00:16The company announced a 10-for-1 stock split, with shares set to begin trading on a split
00:21adjusted basis on October 1st.
00:23Revenue met estimates, but earnings per share were lower than expected.
00:26The server company expects first quarter revenue above estimates and earnings per share
00:30below estimates.
00:32Shares have surged in recent years on bets the company will benefit from NVIDIA's AI-focused
00:36graphics cards powering more servers.
00:38For all things money, visit Benzinga.com.

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