Super Micro shares dive after server maker issues weak preliminary financials

Super Micro Computer CEO Charles Liang at the Computex conference in Taipei, Taiwan, on June 5, 2024. 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 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. The new revenue range implies 18% growth year over year. That's a large step down from the 200% growth Super Micro delivered a year ago. "During Q3 some delayed customer platform decisions moved sales into Q4," the company said in the statement. In addition, the company faced higher inventories from older products, as ... Read full article.