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Super Micro Computer publishes quarterly figures: profit exceeds expectations
Super Micro shares crash despite multiplying profits - sales disappoint investors. Current quarterly figures in focus. Find out now! #SuperMicro #Stock Market #Quarterly Report
Super Micro Computer publishes quarterly figures: profit exceeds expectations
Super Micro Computer presented its financial results for the third quarter of fiscal 2024 after the close of trading in the US on Tuesday. Investors were excited about the quarterly report, especially after the AI hardware provider did not announce preliminary figures. Super Micro Computer had earnings per share of $6.65 for the period. This amount exceeded expert forecasts, which had expected EPS of $5.80. This is a significant increase compared to the same period last year, where earnings per share were $1.63.
Super Micro Computer's revenue for the quarter was $3.85 billion, compared to $1.28 billion in the same quarter last year. Despite this significant increase, quarterly sales fell below analysts' estimates of $3.99 billion. This disappointment was reflected in premarket NASDAQ trading, where Super Micro Computer shares temporarily fell 12.79 percent to $749.00.
The stock's reaction to the results shows that the market did not see Super Micro Computer's sales forecasts being met, even though the company reported a significant increase in profits. Investors are now watching closely to see how the company will react to the disappointing sales figures. As a result, it will be interesting to see how the stock performs in the next few trading sessions.
Super Micro Computer's third-quarter 2024 results showed an impressive increase in earnings per share, but sales fell short of analysts' expectations. Therefore, the stock saw a significant decline in pre-market trading, reflecting disappointing sales performance. It remains to be seen how the company will respond to this challenge and how this will impact the stock's long-term performance.