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Super Micro Computer Inc. shares were rallying about 4% in Wednesday’s extended session after the server maker issued an upbeat outlook despite supply constraints.
The company notched fiscal first-quarter net income of $157 million, or $2.75 a share, compared with $184 million, or $3.35 a share, in the year-prior quarter.
See also: AMD just delivered a ‘revelation.’ Why some on Wall Street still have pause.
On an adjusted basis, Super Micro
SMCI,
earned $3.43 a share, down from $3.51 a share a year before, while analysts were modeling $3.29 a share.
Revenue fell to $2.12 billion from $2.18 billion, whereas analysts were expecting $2.11 billion.
Opinion: AI has given a big boost to stock of this lesser-known Silicon Valley computer maker
“Our teams executed with passion and precision despite the ongoing GPU supply constraints,” Chief Executive Charles Liang said in a release.
He noted that Super Micro was “working diligently to meet these challenges” and still raising its full-year revenue outlook. The company now models $10 billion to $11 billion for the current fiscal year, whereas its prior forecast was for $9.5 billion to $10.5 billion.
For the December quarter, Super Micro anticipates $2.7 billion to $2.9 billion in sales, along with adjusted earnings per share of $4.40 to $4.88. The FactSet consensus was for $2.55 billion in revenue and $4.11 in adjusted EPS.
Opinion: AMD makes bold prediction for its AI chips — but it’s actually not so far-fetched
Super Micro shares have rocketed more than 200% higher so far this year, while the S&P 500
SPX
has increased about 10%.
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