Super Micro shares pop after earnings beat, rosy revenue forecast
Publishing timestamp: 2024-01-30 11:21:48
Summary
Super Micro Computer exceeded revenue estimates and raised its full-year revenue outlook in its fiscal second-quarter earnings report. The company's revenue for the quarter came in at $3.66 billion, higher than analysts' expectations. Super Micro also reported adjusted EPS of $5.59, surpassing analysts' estimates. The company raised its revenue guidance for the full fiscal year and expects net sales of $3.7 billion to $4.1 billion in its fiscal third quarter. Super Micro makes computers used as servers for various applications, including AI, and its customers include major players in the AI industry. The CEO believes that AI technology will have a significant impact. Shares of Super Micro have seen significant growth in recent years.
Sentiment: POSITIVE
Tickers: AMD, INTC, SMCI, NVDA,
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