Super Micro Computer Lifts Q3 Outlook, Stock Up 14%

(RTTNews) - Shares of Super Micro Computer, Inc. (SMCI) jumped over 14% in extended trading session on Monday after the company lifted its outlook for the third quarter, based on "strong growth in customer demand."

For the first quarter, the company now expects earnings of $1.28 to $1.38 per share, adjusted earnings of $1.40 to $1.50 per share and revenues of $1.30 billion to $1.35 billion.

Previously, the company expected earnings of $0.58 to $0.81 per share, adjusted earnings of $0.70 to $0.90 per share and revenues of $1.10 billion to $1.20 billion.

Analysts polled by Thomson Reuters currently expect earnings of $0.80 per share on revenues of $1.14 billion for the quarter. Analysts' estimates typically exclude one-time items.

The company said it revised its outlook based on strong growth in customer demand and its total IT solution value.

SMCI closed Monday's trading at $36.61, up $0.09 or 0.25%, on the Nasdaq. The stock further gained $5.26 or 14.37% in the after-hours trading.