Super Micro Computer Inc. Surges After Impressive Outlook
Super Micro Computer Inc. forecasts revenue of $3.7 billion to $4.1 billion and adjusted EPS of $5.20 to $6.01 for the fiscal Q3, exceeding expectations. The company also raised its full-year forecast to $14.3 billion to $14.7 billion.
4.7
Troy D. Hanson
January 29, 2024
Super Micro Computer Inc. experienced another rally in its shares after issuing an impressive outlook for the fiscal third quarter. The company expects revenue between $3.7 billion and $4.1 billion, along with adjusted earnings per share ranging from $5.20 to $6.01. These forecasts surpassed the FactSet consensus, which had predicted revenue of $2.9 billion and adjusted EPS of $4.61.
Super Micro's CEO, Charles Liang, attributed the positive outlook to the increasing demand for the company's optimized AI computer platforms and rack-scale Total IT Solutions. While gaining new partners, Super Micro also continues to expand its market share.
The company raised its full-year forecast as well, expecting revenue between $14.3 billion and $14.7 billion. This exceeds the analysts' estimates of $13.8 billion and is a significant increase from the previous forecast of $10 billion to $11 billion.
Super Micro, a partner of Nvidia Corp., specializes in storage and server offerings. In the just-completed quarter, it achieved adjusted earnings per share of $5.59 on revenue of $3.66 billion, exceeding the preliminary results released in mid-January, which were already above expectations.
With this outstanding performance, shares of Super Micro have surged by an impressive 567% over the past 12 months.
Leave Comment