Super Micro Cuts 2025 Guidance, Shares Slump Further

Super Micro Computer (SMCI) reported third-quarter earnings that narrowly beat analyst expectations with an adjusted EPS of $0.31, but revenue of $4.6 billion missed consensus estimates and declined from the previous quarter. The company lowered its full-year fiscal 2025 revenue guidance to $21.8–$22.6 billion, citing customer order delays, economic uncertainty, and tariffs as significant headwinds. Fourth-quarter revenue is projected at $5.6–$6.4 billion with an adjusted EPS forecast of $0.40–$0.50, both below analyst estimates. Shares dropped over 5% following the announcement, and the stock has notably underperformed other AI-related equities this year due to persistent concerns about accounting practices and increased market competition. CEO Charles Liang remains confident that delayed orders will materialize in future quarters, supporting long-term growth. Despite management's optimism about AI server technology leadership, investors remain wary amid short-term volatility and broader industry challenges.