Annabelle Cheah/Bloomberg/Getty Images
Super Micro Computer CEO Charles Liang speaks at the Computex conference in Taipei, Taiwan, Wednesday, June 5, 2024.
Main Takeaways
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Super Micro Computer Inc. reported fiscal fourth-quarter earnings that missed analysts’ estimates and announced a 10-for-1 stock split.
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Revenue more than doubled year-over-year and came in slightly above analysts’ expectations, but the company’s margins fell as costs rose, holding back profits.
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Super Micro Computer CEO Charles Liang said the company has benefited from “record” demand for AI infrastructure.
supercomputerSMCI) reported fiscal fourth-quarter earnings that missed analysts’ expectations, sending shares lower in extended trading Tuesday. The company also reported a 10-to-1 stock split.
The company’s revenue for the quarter more than doubled year-over-year to $5.31 billion, slightly above analysts’ expectations, but margins fell as costs rose, slowing earnings. Net income rose to $353 million, or $5.51 a share, from a year earlier, but fell short of analysts’ expectations.
Record Demand for New AI Infrastructure
Super Micro Computer CEO Charles Liang said the company has benefited from “record” demand for AI infrastructure.
The CEO added that the company could be “well positioned to become the largest IT infrastructure company, driven by our technology leadership including large-scale DLC liquid cooling and the business value of our new build data center solutions.”
Super Micro Computer said it expects revenue of $6 billion to $7 billion in the first quarter of fiscal 2025, while its full-year sales forecast was in the $26 billion to $30 billion range, above analysts’ expectations.
The company also announced a future 10-for-1 stock split, with split-adjusted trading expected to begin on October 1.
Shares of Super Micro Computer Inc. were down more than 12% at $540.02 in extended trading as of 6:50 p.m. ET Tuesday following the company’s earnings release.
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