United Investment Limited - Super Micro Computer stock rises on a positive June-quarter outlook

CENTRAL, Hong Kong - June 23, 2023 - PRLog -- In the fiscal quarter ended March 31, the San Jose, Calif.-based firm, better known as SMCI, earned an adjusted $1.63 per share on sales of $1.28 billion. FactSet surveyed analysts, who predicted profits of $1.71 per share on sales of $1.39 billion. SMCI's profits increased 5% year on year, but sales decreased 5%

SMCI warned on April 24 that its fiscal third-quarter sales would fall well short of projections. SMCI reduced their sales target from $1.47 billion to about $1.28 billion. The business attributed the gap on component shortages affecting its next-generation server systems.

SMCI, on the other hand, forecasts adjusted profits per share of $2.46 on revenues of $1.8 billion for the current quarter. This is based on the midpoint of its forecast. In the fiscal fourth quarter ended June 30, Wall Street expected profits of $1.76 per share on revenues of $1.64 billion.

SMCI Stock Rises Following Report

SMCI shares rose 8.5% to $113.34 in after-hours trading on the stock exchange today. SMCI shares fell 0.7% during the regular session Tuesday, closing at $104.43.

"Supermicro continues to see record levels of engagement in our new generation product lines, particularly for AI applications," said Chief Executive Charles Liang in a statement.

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