Super Micro announces 10-for-1 stock split, shares plunge 11% on earnings miss

Category: Finance

Super Micro Computer's shares fell 11% after the company reported fiscal fourth-quarter earnings below analyst expectations, despite a net income increase to $352.7 million. The company announced a 10-for-1 stock split and expects first-quarter revenues between $6 billion and $7 billion, surpassing Wall Street estimates. The stock has surged 246% in 2023, reflecting strong demand for AI infrastructure.

Keywords: Super Micro Computer, stock split, AI infrastructure

Source: CNBC

Update At: 8/7/2024

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