Super Micro Computer (SMCI) late Tuesday will provide a “business update” on its fiscal first quarter, which ended in September. The data center specialist currently is embroiled in controversy surrounding its financial reporting. Super Micro stock rose Tuesday morning.
The San Jose, Calif.-based company plans to hold a webcast and conference call with analysts at 5 p.m. Eastern (2 p.m. Pacific).
Super Micro stock is down 57% in the past three months and 8% year to date as it deals with a morass of accounting issues. It faces possible delisting from the Nasdaq exchange if it doesn’t meet its financial compliance requirements.
Last week, Super Micro disclosed that Ernst & Young had resigned as its accounting firm after citing concerns about the company’s financial reporting. That news was on top of a delay in filing its annual 10-K report and a possible investigation by the U.S. Department of Justice.
Super Micro Earnings Seen Rising
Super Micro hasn’t set a date to formally disclose its fiscal Q1 results. Analysts polled by FactSet expect the company to earn 73 cents a share on sales of $6.44 billion in the September quarter. In the year-earlier period, it earned 34 cents a share on sales of $2.12 billion.
Super Micro is benefiting from cloud computing companies building data centers to support artificial intelligence applications. It competes with Dell Technologies (DELL), Hewlett Packard Enterprise (HPE), Lenovo and others.
In late morning trades on the stock market today, Super Micro stock rose more than 2% to 26.63.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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