Super Micro Beats Q1 Estimates, Raises Outlook on AI Demand Surge

Super Micro Computer beat earnings and revenue estimates for fiscal Q1. It reported adjusted EPS of $3.43 on revenue of $2.12 billion.

For fiscal Q2, SMCI forecast adjusted EPS of $4.64 on revenue of $2.8 billion, well above estimates.

SMCI raised its fiscal 2024 revenue outlook to $10-11 billion based on strong AI infrastructure demand.

The company makes hardware optimized for cloud computing, AI, data storage, telecoms.

SMCI stock rose 4.3% after hours. The stock is ranked highly by IBD for its fundamentals and technicals.