Super Micro Slips on Sales Outlook That Falls Short of Estimates [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The server maker missed an August deadline to file its annual financial report and last week saw its auditor, Ernst & Young LLP, resign citing concerns about the company's governance and transparency. An investigation of the accounting issues by a special board committee found “no evidence of fraud or misconduct on the part of management or the board of directors,” Super Micro said Tuesday in a statement. Revenue will be $5.5 billion to $6.1 billion in the current quarter ending in December, the company said. Analysts, on average, expected sales of $6.79 billion. The San Jose, California-based server maker has had a tumultuous year. Shares were rising at the start of 2024, with Wall Street enthusiastic about AI-fueled demand for Super Micro's high-powered machines, and the company winning inclusion in the S&P 500. But scrutiny intensified after a former employee alleged earlier this year in federal court that the company had sought to overstate its reve
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