Advanced Micro Devices Chairman and CEO Lisa Su (left) and AMD CEO Charles Liang speak at the AMD Advancing AI event on December 6, 2023 in San Jose, California.
David Paul Morris | David Paul Morris Bloomberg | Getty Images
Super Micro Despite giving upbeat revenue guidance, the server maker reported fiscal third-quarter revenue that was slightly below expectations, sending the company’s shares down 12% in after-hours trading on Tuesday.
Here’s how the company compares to the LSEG consensus:
- Earnings per share: Adjusted $6.65, expected $5.78
- income: US$3.85 billion, expected US$3.95 billion
Data show that in the quarter ended March 31, the company’s revenue increased by 200% year-on-year. statement. Compared with the previous quarter’s annual growth of 103%. Net income was $402.5 million, or $6.56 per share, compared with $85.8 million, or $1.53 per share, in the same period last year.
Super Micro raised its fiscal 2024 revenue guidance to a range of US$14.7 billion to US$15.1 billion from US$14.3 billion to US$14.7 billion. Analysts polled by London Stock Exchange Group (LSEG) had expected $14.6 billion.
“Our customer base is growing strongly now,” Chief Executive Tony Leung said on a conference call with analysts.
Despite the after-hours moves, AMD shares are still up 205% year to date, while the S&P 500 stock index has gained 6%.
The company competes with traditional IT equipment suppliers, e.g. Hewlett Packard Enterprise. But last year, investors were keen to bet that Supermicro could become a major provider of servers that include: Nvidia Graphics processing units, used to process artificial intelligence models, pushed the stock up 246%.
In March, Supermicro replaced Whirlpool Corporation as a component of the S&P 500 Index.
Liang said on the call that AMD’s deliveries would have been higher this quarter were it not for a shortage of key parts. He said he expects AI growth to remain strong for many quarters, if not years, to come. David Weigand, Supermicro’s chief financial officer, said the supply chain continues to improve.
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