Super Micro Computer Rallies After Raising Q1 Earnings And Revenue Guidance

(RTTNews) - Shares of Super Micro Computer, Inc. (SMCI), IT solution provider for Cloud, AI/ML, Storage, and 5G/Edge, are rising more than 11% Thursday morning after the company raised its first-quarter outlook, above analysts' view. The company cited customer design wins ramping and total IT solution value.

Super Micro currently sees net sales in the range of $1.78 billion-$1.82 billion, up from the prior guidance of $1.52 billion-$1.62 billion.

Adjusted EPS outlook for the first quarter has been raised to the range of $3.05-$3.20 from $2.07-$2.32.

On average, 5 analysts polled by Thomson-Reuters expect the company to report earnings of $2.18 per share on revenue of $1.57 billion for the quarter.

SMCI, currently at $61.97, has traded in the range of $34.11-$74.93 in the last 1 year.