After Super Micro Computer Inc. shares surged to their best day on record earlier this month upon upbeat preliminary financial results, they were rallying again after the company issued a blowout outlook Monday afternoon.
Super Micro
SMCI,
+4.54%
expects fiscal third-quarter revenue of $3.7 billion to $4.1 billion along with adjusted earnings per share of $5.20 to $6.01. Both forecasts came in well above the FactSet consensus, which was calling for $2.9 billion in revenue and $4.61 in adjusted EPS.
“While we continue to win new partners, our current end customers continue to demand more of Supermicro’s optimized AI computer platforms and rack-scale Total IT Solutions,” Chief Executive Charles Liang said in a release.
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The company also upped its full-year forecast, noting that its products continue to win market share. Super Micro now anticipates $14.3 billion to $14.7 billion in revenue for the full fiscal year, while analysts had been looking for $13.8 billion. The company’s prior forecast called for $10 billion to $11 billion in revenue.
The stock was up more than 8% in after-hours trading Monday.
Super Micro, a partner of Nvidia Corp.
NVDA,
+2.35%,
makes storage and server offerings. It posted adjusted earnings per share of $5.59 on revenue of $3.66 billion for the just-completed quarter, slightly above the preliminary results that Super Micro issued in mid-January, which were themselves well above the consensus view at the time.
Shares of Super Micro have exploded 567% higher over the past 12 months.
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