#Super_Micro_Computer (NASDAQ:#SMCI) reported mixed results for the fiscal #Q3 #2024 and raised revenue outlook for the full year.
Shares fell 2.7% in after-hours #trading.
The company posted quarterly earnings per share (#EPS) of $6.65, beating the analysts’ expectations of $5.80. However, revenue came in at $3.85 #billion, notably below the consensus estimate of $3.99 #billion.
The company’s non-#GAAP gross margin for the third quarter of fiscal year 2024 stood at 15.6%, after adjusting for $3 million in #stock-based compensation expenses.
Looking ahead, #Super #Micro #Computer projects its fourth-quarter 2024 EPS to be between $7.62 and $8.42, topping the analysts’ consensus of $7.14. It also anticipates fourth-quarter revenue to range from $5.1 billion to $5.5 billion, also above the projected $4.89 #billion.
For the full fiscal year 2024, Super Micro Computer expects EPS to be between $23.29 and $24.09, above the analysts’ estimates of $21.99. #Total revenue for the year is raised to a range of $14.3 #billion to $14.7 billion, compared to the consensus estimate of $14.6 #billion.
“Strong demand for AI rack scale PnP solutions, along with our team’s ability to develop innovative DLC designs, enabled us to expand our market leadership in AI infrastructure,” #Charles_Liang, #President and #CEO of #Supermicro.
“As new solutions ramp, including fully production ready DLC, we expect to continue gaining market share.”
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