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Super Micro stock pops as earnings beat and forecast shows AI optimism

Clyde Edgerton by Clyde Edgerton
May 2, 2023
in Markets
Super Micro stock pops as earnings beat and forecast shows AI optimism
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Super Micro Computer Inc. SMCI shares jumped more than 8% in after-hours trading Tuesday, following an earnings report that showed stronger-than-expected earnings and guidance. Super Micro reported fiscal third-quarter net income of $86 million, or $1.53 a share, on revenue of $1.28 billion, down from $1.36 billion a year ago. After adjusting for stock compensation and other effects, the company reported earnings of $1.63 a share, up from $1.55 a share in the same quarter a year ago. Analysts on average expected adjusted earnings of $1.29 a share on revenue of $1.28 billion, according to FactSet. Super Micro Chief Executive…



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