Super Micro current quarter guidance tops estimates, but Q1 earnings fall short
Trending Articles- Gold rises to near $5,150 as Trump’s tariffs boost haven demand, US-Iran talks eyed
- Top 3 Price Prediction: BTC breakdown hints at deeper correction as ETH and XRP extend losses
- Gold drifts higher to $5,000 on heightened US-Iran tensions
- Gold climbs above $5,200 on geopolitical tensions, trade uncertainty
- Gold gains above $5,150 as US tariff uncertainty drive demand, eyes on US-Iran talks
- Top 3 Price Prediction: BTC, ETH and XRP remain range-bound as breakdown risks rise
Investing.com -- Super Micro reported Tuesday upbeat revenue guidance for the current quarter even as Q1 earnings missed estimates and the data center company announced a stock split as it looks to capitalize on growing demand for artificial intelligence hardware used to power AI applications.
The company announced a 10-for-1 forward split of its common stock, expected to start trading on Oct. 1.
For fiscal Q1, non-GAAP net income per diluted share was estimated in a range of $6.69 to $8.27 on sales of $6.0 billion to $7.0 billion, compared with Wall Street estimates for $7.58 on revenue of $5.45B, respectively.
The better-than-expected guidance follows earnings that fell short of analyst estimates in Q4.
For the quarter ended Jun. 30, the company, which counts Nvidia (NASDAQ:NVDA) among its customers for servers, reported adjusted earnings of $6.25 share on sales of $5.31 billion Analysts polled by Investing.com had expected earnings of $8.1 a share on sales of $5.31 billion.
Looking ahead to fiscal year 2025, the company guided net sales between $26.0B and $30.0B, compared with estimates for $33.54B.
"Supermicro continues to experience record demand of new AI infrastructures," the company said.
Super Micro Computer Inc (NASDAQ:SMCI) gave up its gains to trade 8% lower in afterhours following the report.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
