Stock Groups

SGH Shares Down 16% Following Earnings, Revenue Beat -Breaking

by Mike Robinson

[ad_1]


Sam Boughedda

Investing.com — Smart Global Holdings Inc (NASDAQ) Shares fell 18% after the company’s first quarter 2022 earnings reports on Tuesday night.

SGH posted earnings per share (EPS) of $2.16 on revenues of $469.94million. Polled analysts by Investing.comOn revenue of $460.06 millions, EPS is expected to be $2

Comparatively to last year, net sales rose 61%.

“We continued our strong momentum into the first quarter of fiscal 2022, achieving record revenue and non-GAAP gross margins, while delivering non-GAAP earnings per share at the upper end of our EPS guidance range,” said CEO Mark Adams.

The company announced that it will pay a dividend equal to one ordinary share per ordinary share. February 1 will see the payment of the share dividend.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]