Super Micro Computer Reports Q2 Financials, Raises 2024 FY Guidance: Over 100% YOY Sales Increase
Portfolio Pulse from Erica Kollmann
Super Micro Computer, Inc. (NASDAQ:SMCI) reported Q2 earnings of $5.59 per share, surpassing estimates of $4.93 and showing a 71.47% increase from the previous year. Sales reached $3.67 billion, a 103.27% increase year-over-year, beating estimates of $3.06 billion. The company raised its FY 2024 revenue outlook to $14.3 billion to $14.7 billion. Shares rose 6.93% after-hours to $529.99.
January 29, 2024 | 9:29 pm
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POSITIVE IMPACT
Super Micro Computer reported strong Q2 earnings and sales, significantly beating estimates and raising FY 2024 guidance. Shares increased 6.93% after-hours.
The positive earnings report and raised guidance indicate strong performance and future growth potential, which typically lead to an increase in investor confidence and stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100