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Finance Associated Press, January 30 (edited by Xia Junxiong) After the market on Monday, Eastern time, artificial intelligence server manufacturer Supermicro Computer released an excellent quarterly report and significantly raised its full-year performance guidance, far exceeding Wall Street's expectations.
According to the financial report, Supermicro Computer's revenue in the second fiscal quarter of 2024 (the fourth quarter of 2023 of the natural year) was 36$600 million, up 17% year-over-year, and adjusted earnings per share of 5$59. Analysts had expected the company to earn revenue and earnings per share of 28$900 million and $5$16.
In terms of guidance, Supermicro raised its revenue forecast for fiscal 2024, expecting sales to be between $14.3 billion and $14.7 billion by fiscal year 2024 (ending June this year), up from $10 billion to $11 billion previously.
Charles Liang, CEO of Supermicro, said that the company has raised its revenue outlook for fiscal 2024 as the company continues to add new partners and the demand for its products from existing end customers continues to increase.
As an AI server manufacturer, many of Supermicro's servers use NVIDIA's chips. NASA and NEC Japan are both Supermicro customers.
Supermicrocomputer's stock price accumulated more than 246% last year, and the increase was even slightly higher than that of Nvidia in the same period. Since the beginning of this year, Supermicro's share price has risen by nearly 80%.
According to the data, Supermicro Computer has an expected price-to-earnings ratio of 24 over the next 12 months9 times, lower than Nvidia's 305 times. A low P/E ratio indicates that the stock is trading** below its earning potential.
Joshua Mahony, chief market analyst at Scope Markets, said there was renewed optimism about the potential size and duration of this wave of AI craze after Supermicrocomputer reported its results.
"We can clearly see that businesses in the sector are seeing an increase in demand as AI applications grow," Mahony added. ”