After shares of Super Micro Computer Inc. rose To its best day ever earlier this month after upbeat initial financial results, it was rising again after the company issued a strong outlook on Monday afternoon.
super Micro SMCI,
It 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 earnings per share.
“As we continue to win new partners, our existing end-customers continue to demand more from Supermicro’s AI-optimized computing platforms and large-scale end-to-end IT solutions,” CEO Charles Liang said in a statement.
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The company also raised its full-year forecast, noting that its products continue to gain market share. Super Micro now expects revenue of $14.3 billion to $14.7 billion for the full fiscal year, while analysts were expecting $13.8 billion. Previous forecasts for the company called for revenue between $10 billion and $11 billion.
The stock rose more than 8% in after-hours trading on Monday.
Super Micro, a partner of Nvidia Corp. NVDA,
Offers storage and server offers. It posted adjusted earnings per share of $5.59 on revenue of $3.66 billion for the just-completed quarter, which was slightly above the preliminary results Super Micro released in mid-January, which were themselves well above the consensus view in that time.
Super Micro shares are up 567% over the past 12 months.
