Super Micro expects stronger quarterly margins, shares jump
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
July 21 : Super Micro Computer said on Tuesday it expects to post fourth-quarter gross margins above its previous forecast, driving its shares up 16 per cent in after-hours trading.
AI infrastructure firms have seen accelerated demand as tech companies and cloud providers ramp up investments in data centers to support large language models and other AI applications.
The AI server maker secured more than $60 billion in orders in the fourth quarter ended June 30, it said in a preliminarily statement of results.
Super Micro anticipates gross margins in the range of 15 per cent to 17 per cent for the quarter, well above its earlier its forecast of 8.2 per cent to 8.4 per cent, "primarily due to a favorable customer and product mix."
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
It expects to report quarterly revenue near the low end of its projection of $11 billion to $12.5 billion. Analysts expect revenue of $11.67 billion, according to data complied by LSEG.
The company is set to post quarterly results on August 11.
Super Micro in June said it would raise $7 billion through a series of equity and equity-linked financing transactions and use proceeds to fulfill orders worth about $39 billion for its advanced AI servers from more than 20 customers.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app