Proactive Investors - Super Micro Computer Inc (NASDAQ:SMCI) has reported impressive second-quarter results, beating both revenue and earnings estimates and raising its full-year outlook.
The San Jose, California-based computing firm reported an adjusted earnings per share (EPS) of $5.59, surpassing the expected $5.16.
The company has also raised its fiscal year 2024 revenue outlook to a range of $14.3 billion to $14.7 billion.
"While we continue to win new partners, our current end customers continue to demand more Supermicro’s optimized AI computer platforms and rack-scale Total IT Solutions. As our innovative solutions continue to gain market share, we are raising our fiscal year 2024 revenue outlook,” Charles Liang, CEO of Super Micro Computer said in a statement.
Net sales of $3.66 billion beat estimates of around $3.06 billion and compared to $1.80 billion in the same quarter of last year.
For the upcoming third quarter, Super Micro Computer anticipates net sales between $3.7 billion and $4.1 billion, surpassing estimates set at $3.07 billion. The adjusted EPS for Q3 is projected to be in the range of $5.20 to $6.01, exceeding the estimated $4.65.
Super Micro Computer shares rose nearly 8% after market on Monday to reach $533.
Fueled by robust market demand for its artificial intelligence servers, the company's shares have soared by an impressive 474% in the past 12 months.
The company, a leader in high-performance server and storage systems, attributes its success to an innovative, engineering-centric approach, quickly integrating emerging technologies from major players like Nvidia, AMD (NASDAQ:AMD), Intel (NASDAQ:INTC), and ARM into its solutions.