Super Micro Computer Inc. SMCI shares jumped more than 8% in after-hours trading Tuesday, following an earnings report that showed stronger-than-expected earnings and guidance. Super Micro reported fiscal third-quarter net income of $86 million, or $1.53 a share, on revenue of $1.28 billion, down from $1.36 billion a year ago. After adjusting for stock compensation and other effects, the company reported earnings of $1.63 a share, up from $1.55 a share in the same quarter a year ago. Analysts on average expected adjusted earnings of $1.29 a share on revenue of $1.28 billion, according to FactSet. Super Micro Chief Executive Charles Liang said that demand for gear that can handle generative artificial intelligence is leading to greater demand, but that component shortages pushed some orders out of the quarter. “These new AI product demands from top-tier companies have led us to challenges in terms of new key components availability,” he said, but later said the problem had been addressed, and “we have started to produce and ship some back orders since April.” That optimism showed up in Super Micro’s forecast, which called for fiscal fourth-quarter adjusted earnings of $2.21 to $2.71 a share on net sales of $1.7 billion to $1.9 billion. That guidance blew away the average analyst estimate, which called for adjusted earnings of $1.76 a share on sales of $1.64 billion, according to FactSet. Super Micro stock has gained 146.3% in the past 12 months, as the S&P 500 index SPX has increased 0.3%.
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