SMART Global Holdings Inc (NASDAQ: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.
