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Super Micro Computer Inc SMCI shares are trading significantly lower after hours Tuesday after the company reported fiscal second-quarter results and issued third-quarter guidance at the low end or below analyst expectations.
What Happened: Supermicro reported second-quarter revenue of $1.8 billion, down from $1.85 billion sequentially, but up 54% on a year-over-year basis. The company’s top-line results beat average analyst estimates of $1.78 billion, according to Benzinga Pro.
Supermicro reported quarterly adjusted earnings of $3.26 per share, which beat estimates of $3.03 per share.
“We continue to lead the market with the best designs and best in class Total IT Solutions. In fact, the structural shifts in the end markets favor our solution strategy,” said Charles Liang, chairman and CEO of Supermicro.
Supermicro sees fiscal third-quarter revenue between $1.42 billion and $1.52 billion versus estimates of $1.6 billion. The company expects third-quarter adjusted earnings to be in a range of $1.88 to $2.14 per share versus estimates of $2.12 per share.
Supermicro anticipates full-year revenue between $6.5 billion and $7.5 billion versus estimates of $6.91 billion. The company sees full-year adjusted earnings in a range of $9 to $11.30 per share versus estimates of $10.49 per share.
See Also: Why Western Digital Shares Are Sliding After Hours
SMCI Price Action: Supermicro shares are down 5.34% in after hours at $68.47 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Supermicro.
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Image and article originally from www.benzinga.com. Read the original article here.