Super Micro’s Stock Surges 10.7% After-Hours on Record Demand for AI Infrastructures
Super Micro’s stock saw a significant jump of 10.7% in the after-hours session following the release of their fiscal fourth-quarter earnings report. While the profit for the quarter fell short of expectations, the company provided a positive outlook for revenue, attributing it to the continued strong demand for new AI infrastructures.
In the quarter ending on June 30, the net income rose to $352.7 million, or $5.51 per share, compared to $193.6 million, or $3.43 per share, in the same period last year. Adjusted earnings per share also showed an increase to $6.25 from $3.51. However, these figures were below the FactSet consensus of $8.12, marking the first earnings miss in six quarters.
Despite falling slightly below the FactSet consensus, net sales for the quarter surged by 143% to $5.31 billion. Looking ahead to the first quarter, Super Micro anticipates sales in the range of $6 billion to $7 billion, surpassing the current FactSet consensus of $5.52 billion. The company also projects adjusted EPS of $6.69 to $8.27, compared to the expected $7.58.
In conclusion, Super Micro’s stock price surged after-hours due to the optimistic revenue outlook driven by the strong demand for AI infrastructures. The company’s solid financial performance and positive guidance for future sales and earnings indicate a promising trajectory for investors looking to capitalize on the growing AI market.