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Super Micro lifts guidance after Q2 results top estimates amid AI-led demand boost
Super Micro lifts guidance after Q2 results top estimates amid AI-led demand boost By Investing.com
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AuthorYasin EbrahimStock Markets
Published Jan 29, 2024 04:47PM ET
Updated Jan 30, 2024 06:48AM ET
Investing.com — Super Micro Computer (NASDAQ:SMCI) raised its annual guidance and reported fiscal second-quarter earnings that beat Wall Street estimates, as the data center hardware maker was boosted by an artificial intelligence-driven surge in demand.
Shares in the server seller, which counts NASA and Japan’s NEC among its customers, jumped in premarket trading on Tuesday.
The company reported adjusted earnings per share of $5.59 per diluted share on revenue of $3.66 billion, well above analyst estimates of $4.51 and $2.8B. That was also ahead of its most recent second-quarter guidance offered on Jan.18 that called for adjusted EPS of between $5.40 and $5.55 per share.
For the third quarter, Super Micro expects net sales of $3.7B to $4.1B and non-GAAP net income per diluted share of $5.20 to $6.01. That was ahead of analyst projections for EPS of $4.35 on revenue of $2.93B.
Looking ahead, the firm raised its guidance for full-year revenue to a range of $14.3B to $14.7B from a prior forecast of $10B to $11B.
Scott Kanowsky contributed to this report.
Super Micro lifts guidance after Q2 results top estimates amid AI-led demand boost
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