(Bloomberg/Dina Bass) — Super Micro Computer Inc. gave a sales forecast in the current period that fell short of estimates, disappointing investors after the server maker last week released lackluster preliminary quarterly results for the previous quarter.
Revenue will be $5.6 billion to $6.4 billion in the quarter ending in June, the company said Tuesday in a statement. Earnings, excluding some items, will be 40 cents to 50 cents a share. Analysts, on average, projected profit of 64 cents on sales of $6.59 billion.
The poor forecast and results are the latest concern for investors in the San Jose, California-based company, which cited delayed purchases as the reason for the shortfall.
“We do expect many of these commitments to land in the June and September quarters, reinforcing my confidence in our ability to meet our long-term targets, however economic uncertainty and tariff impacts may have a short-term impact,” Chief Executive Officer Charles Liang said in the statement.
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Super Micro also said last week that gross margin for the fiscal third quarter was 220 basis points lower than the previous period, “primarily due to higher inventory reserves resulting from older generation products” and expedited costs to “enable time-to-market for new products.”
While some customers may be waiting to purchase servers until Super Micro’s products come with Nvidia Corp.’s new Blackwell chip, “uncertainty related to tariffs and macroeconomic concerns may also be weighing on near-term demand,” Woo Jin Ho, an analyst at Bloomberg Intelligence, wrote in a note.
The shares declined about 7% in extended trading after closing at $32.94 in New York. The stock has gained 8% this year.
Super Micro said fiscal third-quarter profit, excluding some items, was 31 cents on sales of $4.6 billion. That was below the average estimate of analysts polled by Bloomberg, some of which had been reduced after the company’s preliminary report.
The company had been a darling of artificial intelligence-obsessed investors after it saw an explosion in demand for servers containing high-powered graphic processing chips needed to run artificial intelligence workloads. Super Micro offered a bullish long-term revenue outlook in February because of demand for AI products, saying sales will be $40 billion in the fiscal year ending in June 2026, almost twice as much as analysts’ estimates for the current fiscal year.
But Super Micro also missed an August 2024 deadline to file its annual financial report and its auditor, Ernst & Young LLP, resigned in October, citing concerns about the company’s governance and transparency. The company faced delisting before filing outstanding financial disclosures in late February to become compliant with Nasdaq Inc. rules.
(Updates with comments from analyst in the sixth paragraph.)
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