Super Micro Computer Inc SMCI Shares fell sharply after hours on Tuesday after the company reported fiscal second-quarter results and issued third-quarter guidance that was at a low level or below analysts’ expectations.
what happen: Supermicro reported second-quarter revenue of $1.8 billion, down from $1.85 billion sequentially, but up 54 percent year-over-year. The company’s top-line results beat the average analyst estimate of $1.78 billion, according to Benzinga Pro.
Supermicro reported adjusted earnings of $3.26 per share for the quarter, beating the consensus estimate of $3.03 per share.
“We will continue to lead the market with best-in-class designs and class-leading total IT solutions. Of course, the structural changes in the end markets will support our solution strategy,” he said. Charles LiangChairman and CEO of Supermicro.
Supermicro reported fiscal third-quarter revenue of $1.6 billion, compared with a range of $1.42 billion and $1.52 billion. The company expects third-quarter adjusted earnings to be in the range of $1.88 to $2.14 per share, within estimates of $2.12.
Supermicro expects full-year revenue between $6.5 billion and $7.5 billion, with estimates of $6.91 billion. The company sees full-year adjusted earnings in the range of $9 to $11.30 a share, versus an estimate of $10.49 per share.
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SMCI Price Action: Shares of Supermicro were down 5.34% at $68.47 after hours at press time, according to Benzinga Pro.
Photo: Courtesy of Supermicro.