Computer techniques company Smart Global Holdings (SGH) past due Tuesday beat Wall Street’s objectives for its fiscal 2nd quarter and guided upper for the present duration. But SGH inventory fell in prolonged buying and selling.
The Milpitas, Calif.-based corporate earned an adjusted 87 cents a percentage on gross sales of $449 million within the quarter ended Feb. 25. Analysts had anticipated SGH profits of 72 cents a percentage on gross sales of $435 million, consistent with FactSet. On a year-over-year foundation, SGH profits jumped 98% whilst gross sales climbed 48%.
For the present quarter, SGH forecast adjusted profits of 75 cents a percentage on gross sales of $455 million. That’s according to the midpoint of its outlook. Analysts were modeling SGH profits of 71 cents a percentage on gross sales of $452 million within the fiscal 3rd quarter, FactSet mentioned.
In after-hours buying and selling at the inventory marketplace these days, SGH inventory sank 0.3%, close to 23.10. During the common consultation Tuesday, SGH inventory fell 5.3% to near at 23.17.
Earnings file main points to observe.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for extra tales on client generation, instrument and semiconductor shares.
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