Supermicro Shares Surge 12% After Raising Q1 Revenue Outlook on AI Demand

3-line summary

• Super Micro Computer raised its preliminary first-quarter (ended September 30) revenue guidance to $18.5-$19.5 billion, up from a prior $14.5-$15.5 billion range; the midpoint of $19 billion is well above the roughly $14.99 billion analyst consensus.
• The company also raised its gross-margin guidance to 12.0%-12.5% from a prior 10.4%-10.8%, citing a more favorable mix of customers and products; Supermicro attributed the upgrade to rising demand for its AI platforms, following a July disclosure that its order backlog exceeded $60 billion.
• Shares jumped 12% in after-hours trading Tuesday; the company's earnings conference call is scheduled for November 3 at 5pm ET.

This summary is our own processing of the source article; see the source link below for full context.