Super Micro Computer Stock Sinks On Preliminary Q1 Results, Q2 Guidance, Business Update

Super Micro Computer Inc (NASDAQ:SMCI) provided a business update for the first quarter and reported preliminary results after the market close on Tuesday. Here’s everything you need to know.

Preliminary Q1 Earnings: Super Micro expects to report first-quarter revenue of $5.9 billion to $6 billion, down from its previous guidance range of $6 billion to $7 billion.

The company anticipates adjusted earnings of 75 cents to 76 cents per share, versus its previous guidance of 67 cents to 83 cents per share.

Super Micro expects a first-quarter gross margin of approximately 13.3%. The company said it expects to report total cash and cash equivalents of $2.1 billion and total debt of approximately $2.3 billion.

Q2 Outlook: Super Micro expects second-quarter revenue of $5.5 billion to $6.1 billion. The company anticipates second-quarter adjusted earnings of 56 cents to 65 cents per share. The company’s soft guidance appears to be weighing on shares after hours.

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Business Update: Super Micro stock plunged last ...