.August 7, 2024 4:33 PM

Super Micro Computer, Inc. (NASDAQ:SMCI) announced an optimistic revenue outlook for the current quarter due to increasing demand for its AI servers supporting artificial intelligence applications. However, the company’s stock plummeted over 20% intra-day after missing Q4 earnings expectations.

In Q4, Super Micro reported adjusted earnings of $6.25 per share on sales of $5.31 billion, falling short of analysts’ expectations of $8.1 per share on the same sales figure.

For fiscal Q1, the company projected non-GAAP net income per diluted share between $6.69 and $8.27, with sales expected to range from $6.0 billion to $7.0 billion, surpassing Wall Street estimates.

Looking ahead to fiscal year 2025, Super Micro forecasts net sales between $26.0 billion and $30.0 billion, which is below the analyst consensus of $33.54 billion.