Super Micro Computer shares surge 19% after company files delayed financials by deadline

Charles Liang, CEO of Super Micro Computer, during the AMD Advancing AI event in San Jose, California, on Dec. 6, 2023. Super Micro Computer shares rallied 19% after the AI server company filed its delayed financial results by the Nasdaq's deadline. The company's auditor BDO wrote in the filing that the consolidated financial statements for the fiscal year ending June 30, 2024, "present fairly, in all material respects, the financial position of the Company" and are "in conformity with accounting principles generally accepted" in the U.S. The company also filed audited financial results for the first two quarters of the fiscal 2025 year and said in a release that it has "regained compliance" with the Nasdaq's filing requirements. For the fiscal year, Super Micro said its sales more than doubled to $14.99 billion from $7.12 billion in 2023. Net income came in at roughly $1.15 billion, up from nearly $640 million in 2023. In an attached note from management, Super Micro said it had ... Read full article.