Shares of Super Micro Computer Inc (NASDAQ:SMCI) ended a bloody after-hours session down 13% after the company reported financial fourth-quarter earnings below analyst expectations. The company also announced a 10-for-1 stock split.
For the quarter ending in June, the rack-scale computing group reported adjusted earnings of $6.25 per share, missing the expected $8.07.
Revenue was $5.31 billion, slightly above the $5.30 billion forecast. As the numbers above suggest, the gross margin dropped - to 11.2% (from 17% the previous year and 15.5% in the third quarter).
Super Micro stock closed the session off $81.94 at $535.00, valuing the business at $39 billion.