SMART Global Holdings Inc SGH shares are trading lower in Tuesday's after-hours session after the company reported financial results and issued guidance.
SMART Global Holdings said fiscal second-quarter revenue grew 48% year-over-year to $449 million, which beat the $435.41 million estimate. The company reported quarterly earnings of 87 cents per share, which beat the estimate of 72 cents per share.
SMART Global Holdings expects third-quarter revenue to be between $435 million and $475 million versus the $454.87 million estimate. The company expects quarterly adjusted earnings to be in a range of 67 cents to 83 cents per share versus the estimate of 71 cents.
The company also announced a $75 million share repurchase authorization.
SMART Global Holdings is a designer and manufacturer of electronic products focused on memory and computing technology areas.
SGH 52-Week Range: $24.07 - $74.50
The stock was down 3.02% in after hours at $22.47 at press time, according to data from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
