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Super Micro Computer raises 2024 revenue outlook after earnings beat, shares down

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Super Micro Computer raises 2024 revenue outlook after earnings beat, shares down

The company posted quarterly earnings per share 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.

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. “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.

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