Super Micro Computer Inc Stock Plummets 15%! Revenue and Profit Both Disappoint, Market Pessimistic About Server Outlook!
TradingKey - Super Micro Computer's performance fell short. Its stock dropped 15%, impacting several server competitors.
On Tuesday, Super Micro Computer Inc (SMCI) released its preliminary third-quarter results during after-hours trading, falling short of market expectations. The stock fell as much as 16% before closing down 15%.
Super Micro Computer Inc stock price trend chart, source: Google.
According to the report, Super Micro Computer Inc's revenue came in between $4.5 billion and 4.6 billion—well below analyst’s forecast of $5.35 billion. Adjusted earnings per share (EPS) were reported at 29-31 cents, significantly lower than the expected 53 cents.
Super Micro Computer Inc explained, "Some customers delayed product decisions in Q3. This pushed some sales to Q4." They also noted that older products led to increased inventory write-downs, affecting performance.
Following the report, not only did Super Micro Computer's stock tumble, but the broader server sector suffered. Dell(DELL) declined 3.28%, Nvidia (NVDA) fell 2.06%, and HP (HPQ) decreased 1.65%.
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