Investing.com -- Supermicro raised its annual guidance Monday after reporting fiscal second-quarter earnings that beat Wall Street estimates as the data center hardware maker continued to ride the wave of artificial-intelligence-led demand.
Super Micro Computer Inc (NASDAQ:SMCI), which makes computers for companies used as servers to store data and operate applications, jumped 4% in afterhours trading following the earnings report.
The company reported adjusted earnings of $5.59 per diluted share on revenue of $3.66 billion, well above analyst estimates of adjusted EPS of $4.51 per share on revenue of $2.8B. That was also ahead of most recent Q2 guidance offered on Jan.18 that called for adjusted EPS of between $5.40 and $5.55 per share.
For Q3, the company expects net sales of $3.7B to $4.1B and non-GAAP net income per diluted share of $5.20 to $6.01. That was well ahead of analyst estimates for EPS of $4.35 on revenue of $2.93B.
Looking ahead, the company raised its guidance for revenues to a range of $14.3B to $14.7B from a prior forecast of a range of $10B to $11B.
