Supermicro Provides Q2 Fiscal 2024 Business Update; Updates Q2 EPS Guidance From $4.40-$4.88 To $5.40-$5.55 Vs $4.52 Est.; Net Sales From $2.7B-$2.9B To $3.6B-$3.65B Vs $2.78B Est.
Portfolio Pulse from Benzinga Newsdesk
Supermicro (NASDAQ:SMCI) has updated its Q2 fiscal 2024 guidance, raising EPS from $4.40-$4.88 to $5.40-$5.55 and net sales from $2.7B-$2.9B to $3.6B-$3.65B, surpassing estimates. The preliminary results reflect strong demand for their AI, Cloud, Storage, and 5G/Edge solutions. Final results may differ as they are subject to financial closing procedures. A conference call to review Q2 results is scheduled for January 29, 2024.
January 19, 2024 | 1:37 pm
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Supermicro has significantly raised its Q2 fiscal 2024 EPS and net sales guidance, indicating a strong performance that exceeds analyst expectations.
The substantial increase in both EPS and net sales guidance suggests that Supermicro is experiencing significant growth and outperforming market expectations. This positive update is likely to instill investor confidence and could lead to a short-term increase in stock price, as it indicates better-than-expected financial health and strong demand for the company's products.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100