Super Micro Computer: Q2 Earnings Insights
Portfolio Pulse from Benzinga Insights
Super Micro Computer (NASDAQ:SMCI) reported Q2 earnings with an EPS of $5.59, beating estimates by 13.39% and showing a revenue increase of $1.86 billion year-over-year. Despite beating last quarter's EPS estimate, the stock dropped by 2.53% the following day. The company provided Q2 2024 guidance with expected earnings between $5.4 and $5.55 per share.
January 29, 2024 | 9:10 pm
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Super Micro Computer reported a strong Q2 earnings beat with a 13.39% higher EPS than estimated and significant year-over-year revenue growth. However, past performance shows a stock price drop after earnings beats.
While SMCI's earnings beat and revenue growth are positive, historical data shows that the stock price dropped after the last earnings beat. The market may have already priced in the positive results, and guidance will be a key factor for future stock performance.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100