Stock Market News
Super Micro Computer Stock Jumps on Raised Q3 Outlook
2022.04.19 00:42
Super Micro Computer (SMCI) Stock Jumps on Raised Q3 Outlook
Super Micro Computer, Inc. (Nasdaq: NASDAQ:SMCI) shares rose 13% after-hours Monday after the company announced its preliminary financial information for Q3, which was above its prior guidance and the Street consensus.
Given the strong growth in customer demand and its total IT solution value, the company raised its estimates, now expecting Net Sales to be in the range of $1.3-$1.35 billion vs. the prior $1.1-$1.2 billion, and the Street estimate of $1.14 billion.
The company expects Q3 non-GAAP diluted EPS to be $1.40-$1.50 (vs. prior $0.70-$0.90), compared to the Street estimate of $0.80.
By Davit Kirakosyan
