Super Micro Computer, Inc. (SMCI) reported a significant beat on quarterly earnings by $0.54 and raised its full-year sales guidance substantially. The company's net revenue saw a year-over-year increase of 103% to $3.665 billion, and a quarter-over-quarter increase of 73%. Despite a decrease in gross margin from 18.7% a year ago to 15.4%, net income rose by 68.2% year-over-year and 88.53% quarter-over-quarter. For the fiscal year ending June 2024, SMCI now expects revenue to be between $14.3 billion to $14.7 billion, a sharp rise from the previous forecast of $10 billion to $11 billion, indicating an increase of 35%-40%. This updated guidance surpasses the FactSet consensus estimate of $11.34 billion. The company's shares surged 10.5% in US after-hours trading to new all-time highs, crossing $518 following the announcement. Additionally, SMCI has provided an above-consensus guidance for Q3, with expected revenue ranging from $3.7 billion to $4.1 billion, and its stock cleared $496 with authority.
Super Micro Computer shares rose 10.5% in US after-hours trading after the AI server maker raised its outlook for its fiscal 2024 to US$14.3 billion to $14.7 billion from prior guidance of $10-$11 billion as it wins new clients even as “our current end customers continue to…
$SMCI reported its quarterly earnings results that beat expectation and raised its sales guidance for full year:👇🏼 Net revs up 103% y/y to $3.665B, +73% q/q. Gross margin was 15.4% vs 18.7% a year ago Net Income up 68.2% y/y, +88.53% q/q Expect this quarter revs to be min 3.7B,… https://t.co/FJfJNwTChi https://t.co/5udSrYHpLN
$SMCI $450 hit already for 2024 PT, almost getting to $570👇 Similar thing happened last Jan 2023 - We hit levels within a month https://t.co/AEoCFmTtpI
$smci Cleared $496 with authority and $nvda cleared $628.50 https://t.co/FVvTuzkF0i
$SMCI FY increased by 35%-40% thats insane from $10-11Bn https://t.co/TRnxPVseuB
$SMCI Q3 expected $3.7bn to $4.1Bn revenue Fiscal Year ending June '24 - expected revenue 14.3Bn to $14.7Bn
$SMCI raises guidance for FY24, sees FY24 revs of $14.3-$14.7 bln vs. $11.34 bln FactSet Consensus, up from prior guidance of $10-$11 bln
Super Micro Computer beats by $0.54, beats on revs; guides Q3 EPS above consensus, revs above consensus; raises FY24 revs guidance above consensus $SMCI
$SMCI flying AHs $518+ new ATHs https://t.co/kTNmJsDrIK https://t.co/dFFyDhxqxP
Crazy beat + guidance $SMCI https://t.co/UeeDZqMGpA
$SMCI earnings after market close Potential upside levels: $570, $585, $600