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Super Micro stock falls after weaker sales guidance for fiscal Q3

Clyde Edgerton by Clyde Edgerton
January 31, 2023
in Markets
Super Micro stock falls after weaker sales guidance for fiscal Q3
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Shares of Super Micro Computer Inc. SMCI fell more than 10% in the extended session Tuesday after the IT company reported fiscal second-quarter earnings above Wall Street expectations but called for softer current-quarter sales. The company, which does business as Supermicro, earned $176 million, or $3.14 a share, in the quarter, compared with $42 million, or 78 cents a share, in the same quarter of last year. Adjusted for one-time items, the company earned $3.26 a share. Revenue rose to $1.80 billion from $1.17 billion a year ago. “We continue to lead the market with the best designs and best-in-class total IT solutions,”…



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