Super Micro shares dip after AI server maker flags financial control concerns

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Super Micro Computer‘s shares fell nearly 5% on Friday after the artificial intelligence-optimised server maker reiterated weaknesses in internal control over financial reporting.

The company disclosed in a regulatory filing on Thursday that unresolved issues could “adversely affect” its ability to report results of operations in a timely and accurate manner.

In its annual report for the fiscal year ended June 30, Super Micro repeated similar statements from its May quarterly filing, adding that it was working to address the problems.

Last year, the San…



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Super Micro shares dip after AI server maker flags financial control concerns



Super Micro Computer‘s shares fell nearly 5% on Friday after the artificial intelligence-optimised server maker reiterated weaknesses in internal control over financial reporting.

The company disclosed in a regulatory filing on Thursday that unresolved issues could “adversely affect” its ability to report results of operations in a timely and accurate manner.

In its annual report for the fiscal year ended June 30, Super Micro repeated similar statements from its May quarterly filing, adding that it was working to address the problems.

Last year, the San…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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