Related News

Access Denied You don’t have permission to access ” on this server. Reference #18.27fdd417.1756494351.a59ed1a Source link

Zydus Wellness Ltd on Friday announced that its wholly-owned subsidiary, Alidac UK Ltd, will acquire UK-based Comfort Click for GBP 239 million, marking the company’s first international acquisition and entry

Canada’s economy shrank at an annualised pace of 1.6% in the second quarter as exports took a hit from tariffs imposed by US President Donald Trump, Statistics Canada said on

Union coal and mines minister G Kishan Reddy said on Friday that India has signed an agreement with Japan in the mineral resources sector as part of efforts to build

The Centre on Friday increased usage charges for gunny bags by 40% to Rs 10.22 per used bag, a step aimed at easing the financial burden of states and Union

Thomas Fuller | SOPA Images | Lightrocket | Getty Images Ambarella stock roared 20% higher Friday as the chip designer reported better-than-expected second-quarter results and issued strong guidance. Here’s how

Trending News

In today’s digital age, the opportunity to make money online without any initial investment is more accessible than ever before. Whether you’re a student looking to earn some pocket money,

In today’s digital world, make money online has become a dream many want to turn into reality. Whether you’re looking for a side hustle or aiming to build a full-time

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

Super Micro shares dive after server maker issues weak preliminary financials

Word Count: 226 | Estimated Reading Time: 2 minutes


Super Micro Computer CEO Charles Liang at the Computex conference in Taipei, Taiwan, on June 5, 2024.

Annabelle Chih | Bloomberg | Getty Images

Super Micro shares fell as much as 19% on Tuesday after the server maker announced preliminary results for the fiscal third quarter that were lower than analysts had projected.

Here’s how the company’s preliminary numbers compare with the LSEG consensus:

  • Earnings per share: 29 to 31 cents per share adjusted vs. 54 cents expected
  • Revenue: $4.5 billion to $4.6 billion vs. $5.50 billion expected

Super Micro lowered the ranges from earlier guidance for the quarter, which ended on March 31, according to a statement.

“During Q3 some delayed customer platform decisions moved sales into Q4,” the company said in the statement.

The pre-announcement is the latest blow for Super Micro, which has been mired in controversy for the past year due to delayed financial filings and troubling reports from short sellers. In February, the company filed its financials for its fiscal 2024 year and the first two quarters of fiscal 2025 just in time to meet Nasdaq’s deadline to stay listed. Last year, after Super Micro delayed its annual report, it lost its auditor, Ernst & Young, citing governance issues.

Super Micro will go over the results with analysts on a conference call at 5 p.m. ET on Tuesday, May 6.

— CNBC’s Ari Levy contributed to this report.

This is breaking news. Please refresh for updates.



Source link

Most Popular Articles