Super Micro forecasts quarterly revenue above estimates on strong AI server demand
Nov 3 (Reuters) - Super Micro Computer SMCI.O forecast second-quarter revenue above Wall Street estimates on Tuesday as strong demand for its AI-optimized servers boosted sales, sending the company's shares up about 6% in extended trading.
The San Jose, California-based server maker has been a key beneficiary of the AI infrastructure boom, with strong demand for its Nvidia-powered systems as cloud providers and technology companies continue to expand data-center capacity.
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Super Micro Computer appointed former Western Digital executive Mark Long as CFO last month, nearly two years after launching a search for the role amid concerns over its financial and accounting practices
Super Micro reported first-quarter revenue of $19.95 billion, above analysts' average estimate of $16.39 billion, according to data compiled by LSEG
It earned $1.81 per share on an adjusted basis for the quarter ended September 30, compared with estimates of $1.23
Gross margins for the quarter stood at 12.7%, ahead of preliminary estimate of 12.0% to 12.5%
The company expects second-quarter revenue in the range of $19.5 billion and $21.5 billion, above analysts' estimate of $17.14 billion
It also forecast fiscal 2027 revenue of $72.0 billion to $82.0 billion, compared with its prior forecast of $65.0 billion to $72.0 billion and the Street's estimate of $69.17 billion
The company has faced scrutiny after a contractor pleaded guilty last month to charges related to illegally exporting servers containing advanced Nvidia AI chips to China