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Charles Liang, CEO of Super Micro, speaks at the HumanX AI conference at in Las Vegas on March 10, 2025.

Big Event Media | HumanX Conference | Getty Images

Super Micro issued disappointing guidance on Tuesday, a week after the server maker provided preliminary results for the latest quarter that fell far shy of Wall Street’s expectations. The stock slid about 4% in extended trading.

Here’s what the company reported in comparison with LSEG consensus:

  • Earnings per share: 31 cents adjusted vs. 50 cents expected
  • Revenue: $4.60 billion vs. $5.42 billion expected

While the latest numbers were below analysts’ estimates, they were in line with early results that Super Micro disclosed last week. The company said at the time that revenue in the fiscal third quarter would be between $4.5 billion and $4.6 billion, and that earnings per share would fall in the range of 29 cents to 31 cents. The stock plummeted 12% following that release.

But Super Micro on Tuesday gave investors their first glimpse into fourth-quarter results, and those are also below expectations. Super Micro called for 40 cents to 50 cents in adjusted earnings per share on $5.6 billion to $6.4 billion in revenue. Analysts polled by LSEG had been looking for 69 cents in adjusted earnings per share on $6.82 billion in revenue.

The macroeconomic environment is likely to weigh on performance, the company said, following President Donald Trump’s announcement in early April of sweeping new tariffs on imported goods. CEO Charles Liang also said that some customers delayed purchases of data center technology in the latest quarter.

“We do expect many of those commitments to land in the June and September quarters, reinforcing my confidence in our ability to meet our long-term targets,” Liang said in the release. He added that “economic uncertainty and tariff impacts may have a short-term impact.”

Super Micro’s revenue grew 19% year over year during the quarter, which ended on March 31. Net income of 17 cents per share were down from 66 cents in the same quarter a year ago.

It’s been a treacherous past year for Super Micro. Prior to that, the stock had been on a tear due to the company’s position in the artificial intelligence market, selling servers packed with Nvidia’s graphics processing units.

Over the summer, short seller Hindenburg Research issued a report on the Super Micro, claiming it had found proof of “accounting manipulation.” In October, Ernst & Young resigned as the company’s auditor after raising concerns about internal control over financial reporting and other matters.

An independent special committee investigated but “did not raise any substantial concerns about the integrity of Super Micro’s senior management or Audit Committee, or their commitment to ensuring that the Company’s financial statements are materially accurate,” according to a statement.

In February, Super Micro filed an annual report for its 2024 fiscal year, which ended on June 30, helping to keep the stock from being delisted on Nasdaq. Staff from the exchange had informed Super Micro that the company was back in compliance with filing requirements, according to a statement.

As of Tuesday’s closing bell, Super Micro had gained 9% so far in 2025, while the S&P 500 index had declined by 4%.

Executives will discuss the results on a conference call starting at 5 p.m. ET.

This is breaking news. Please check back for updates.

WATCH: Super Micro Computer cuts full year revenue guidance

Super Micro Computer cuts full year revenue guidance

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StubHub IPO is back on for September after ticketing company delayed plans on tariff concerns

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StubHub IPO is back on for September after ticketing company delayed plans on tariff concerns

StubHub updates S-1 filing effectively restarting IPO process

StubHub, the ticketing marketplace that spun out of eBay in 2020, has resumed its plans to go public and is now aiming to hold its IPO next month, CNBC has learned.

The company originally paused its IPO plans in April as the stock market was reeling from President Donald Trump’s “liberation day” tariffs. The decision came after StubHub submitted its prospectus in March indicating it would list on the New York Stock Exchange under the ticker “STUB.”

StubHub now expects to kick off its IPO roadshow after Labor Day, Sept. 1, and make its debut later in the month, according to a source familiar with the matter who asked not to be named because the discussions are confidential.

The company didn’t immediately respond to a request for comment.

StubHub also filed an updated IPO prospectus on Monday. It reported revenue growth in the first quarter of 10% from a year earlier to $397.6 million. Operating income came in at $26.8 million for the period, after the company lost $883,000 in the year-ago period, but its net loss widened to $35.9 million from $29.7 million a year ago.

The IPO market has come to life in recent months after an extended dry spell due to high inflation and rising interest rates. A flurry of startups have made their public debuts, including rocket maker Firefly Aerospace, design software company Figma, crypto firm Circle and AI infrastructure provider CoreWeave. Bullish, the cryptocurrency exchange that counts Peter Thiel as an investor, also filed its IPO prospectus last month.

StubHub has been a longtime player in the ticketing industry since its launch in 2000. It was purchased by eBay for $310 million in 2007, but was reacquired by its co-founder Eric Baker in 2020 for $4 billion through his new company Viagogo.

The company had sought a $16.5 billion valuation before it began the IPO process, CNBC previously reported. StubHub didn’t provide an expected pricing range for its shares in the filing.

As it prepares to go public, StubHub is contending with hefty competition in the online ticketing market. In addition to Ticketmaster, which is owned by Live Nation, StubHub is up against secondary market companies, including Vivid Seats, SeatGeek and TicketNetwork

For the first quarter, StubHub reported gross merchandise sales of $2.08 billion, up 15% from a year prior. That was a slowdown from 47% expansion the previous quarter. StubHub said GMS, or the total value paid by buyers for tickets and fulfillment, builds in each quarter and that initial sales for major concert tours typically occur near the end of the year.

WATCH: Recent first-day pops are for pre-AI companies

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Trump says he asked for 20% cut from Nvidia, calls H20 an ‘obsolete’ chip

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Trump says he asked for 20% cut from Nvidia, calls H20 an 'obsolete' chip

U.S. President Donald Trump (L) listens as Nvidia CEO Jensen Huang speaks in the Cross Hall of the White House during an event on “Investing in America” on April 30, 2025 in Washington, DC.

Andrew Harnik | Getty Images

President Donald Trump on Monday said that he initially asked Nvidia for a 20% cut of the chipmaker’s sales to China, but the number came down to 15% after CEO Jensen Huang negotiated with him.

The comments came after news broke over the weekend that Nvidia agreed to pay the federal government a 15% cut in return for receiving export control licenses that will allow it to once again sell the H20 chip to China and Chinese companies. Nvidia’s Huang visited Trump in the White House on Friday.

“I said, ‘listen, I want 20% if I’m going to approve this for you, for the country,'” Trump said in a press conference in Washington.

Trump said that Nvidia’s H20 is an “old chip that China already has” and is “obsolete.” He compared the H20 chip to Nvidia’s current fastest artificial intelligence chip, which is called Blackwell, and said that he wouldn’t allow those to be sold to China without significant downgrades, such as a 30% to 50% reduction in performance.

“The Blackwell is super-duper advanced. I wouldn’t make a deal with that,” Trump said, adding that it was possible to make a deal for a “somewhat enhanced in a negative way” version of Blackwell.

“That’s the latest and the greatest in the world. Nobody has it. They won’t have it for five years,” Trump said.

One reason for the U.S. export controls is fear that providing advanced chips to China could allow the foreign power to leapfrog the U.S. in AI capabilities. Many have said that could pose a threat to the national security of the U.S.

Trump said that China already has chips with some similar capabilities to the H20.

Huang has said that it is better for U.S. national security if Chinese AI developers use U.S. technology, and that denying them access to Nvidia chips would actually encourage the Chinese chip industry to develop and catch up.

“He’s selling a essentially old chip,” Trump said. “Huawei has a similar chip.”

The H20 is a Chinese-specific chip that has had its performance slowed down. It is related to Nvidia’s H100 and H200 chips that are used in the U.S. The H20 was introduced after the Biden administration implemented export controls on AI chips in 2023.

In April, the Trump administration said it would require a license to export the H20 chip, and in May, Huang said that “effectively closed” the market off to Nvidia. Huang said that Nvidia was expecting to sell about $8 billion in H20 chips in the July quarter before sales were stopped.

“While we haven’t shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide,” an Nvidia spokesperson told CNBC on Monday.

Trump on Monday also said that Huang plans to visit him again to negotiate export licenses for the Blackwell chips.

“I think he’s coming to see me again about that,” Trump said.

A White House official confirmed to CNBC that AMD, the second-place AI chip maker, will also pay 15% to receive an export license for its China-focused AI chip, the Instinct MI308.

WATCH: Nvidia, AMD to pay U.S. 15% of AI chip sales in China to secure export licenses

Nvidia, AMD to pay U.S. 15% of AI chip sales in China to secure export licenses

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Crypto exchange Bullish raises IPO size, seeks nearly $5 billion valuation

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Crypto exchange Bullish raises IPO size, seeks nearly  billion valuation

Pavlo Gonchar | SOPA Images | AP

Peter Thiel-backed cryptocurrency exchange Bullish raised the size of its initial public offering.

Bullish is aiming to raise $990 million, offering 30 million shares priced between $32 and $33 apiece, and targeting a valuation of $4.8 billion, according to a Monday filing with the Securities and Exchange Commission.

The company, led by former New York Stock Exchange president Tom Farley, had previously marketed 20.3 million shares at a proposed range between $28 and $31 a share and sought a $4.2 billion valuation, per a filing last week.

Bullish granted its underwriters, led by JPMorgan, Jefferies and Citigroup, a 30-day option to sell an additional 4.5 million shares. Bullish stock will trade on the New York Stock Exchange under ticker symbol “BLSH.”

BlackRock and Cathie Wood’s ARK Investment Management have indicated interest in purchasing up to $200 million of the shares, according to the updated filing.

Bullish, which also owns the crypto media site CoinDesk, is the latest crypto firm to join the public market, reflecting reinvigorated capital markets driven by investor confidence and increasing regulatory support and clarity from Washington. The stablecoin issuer Circle made its highly successful debut in June. In May, Mike Novogratz’s Galaxy Digital uplisted to the Nasdaq and stock and crypto trading app eToro opened trading to the public.

Crypto custody startup BitGo has confidentially filed for a U.S. listing as has Gemini, the crypto exchange run by Tyler and Cameron Winklevoss.

Don’t miss these cryptocurrency insights from CNBC Pro:

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