sankai
Super Micro Computer (NASDAQ:SMCI) shares surged more than 28% on Wednesday as the San Jose, California-based server and storage company issued fourth-quarter guidance that topped Wall Street expectations.
Looking ahead, the Charles Liang-led company expects net sales to fall within a range of $1.7B and $1.9B, above the $1.64B analysts’ are expecting. Quarterly earnings are forecast to be between $2.21 and $2.71 per share, excluding one-time items, well above the $1.76 per share Wall Street is anticipating.
In addition, Super Micro Computer (SMCI) maintained its guidance for the full year, as it expects sales to fall within a range of $6.6B and $6.8B and earnings to be between $10.50 and $11 per share.
Analysts expect the company will generate $6.69B in full-year sales and $10.13 per share in earnings.
Amid the stronger-than-expected guidance, Super Micro Computer (SMCI) reported third-quarter results, earning an adjusted $1.63 per share as revenue declined nearly 6% year-over-year to $1.28B.
In late April, Super Micro Computer (SMCI) reported preliminary third-quarter revenue, citing new component shortages as the reason for the downfall.
On the company’s earnings call, Super Micro (SMCI) suggested its supply chain issues look to have been resolved.
Super Micro Computer (SMCI) is Seeking Alpha’s number one quant pick for 2023, which can be found as part of Alpha Picks.
“SMCI has been focused on cost-cutting where possible while offering new products and service solutions that include plug-and-play Rack-Scale Total IT solutions and GPU-based systems,” Seeking Alpha’s Steven Cress wrote in January.
“Both actions have resulted in year-over-year triple-digit percentage growth, and the company anticipates continued momentum throughout 2023.”
/cloudfront-us-east-1.images.arcpublishing.com/gray/D4656MRB7VARFOZIGKZUI2HCKM.jpg "More gadget gifts for Mother’s Day")