Shares of Super Micro Computer Inc. SMCI fell more than 10% in the extended session Tuesday after the IT company reported fiscal second-quarter earnings above Wall Street expectations but called for softer current-quarter sales. The company, which does business as Supermicro, earned $176 million, or $3.14 a share, in the quarter, compared with $42 million, or 78 cents a share, in the same quarter of last year. Adjusted for one-time items, the company earned $3.26 a share. Revenue rose to $1.80 billion from $1.17 billion a year ago. “We continue to lead the market with the best designs and best-in-class total IT solutions,” Chief Executive Charles Liang said. “In fact, the structural shifts in the end markets favor our solution strategy.” Super Micro guided for fiscal 2023 sales between $6.5 billion and $7.5 billion, and adjusted per-share earnings between $9.00 and $11.30. That compares with FactSet consensus of adjusted EPS of $10.49 on sales of $6.9 billion for the year. For the fiscal third quarter, the company expects net sales between $1.42 billion and $1.52 billion, and adjusted EPS between $1.88 and $2.14. The FactSet expectations call for adjusted EPS of $2.12 on sales of $1.6 billion. Shares of Super Micro ended the regular trading day up 0.3%.
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