NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Why Super Micro Computer Shares Hit A New 52-Week High Today

Published 02/11/2022, 17:27
Updated 02/11/2022, 18:41
© Reuters.  Why Super Micro Computer Shares Hit A New 52-Week High Today
SMCI
-

Super Micro Computer, Inc. (NASDAQ: SMCI) shares are trading higher by 14% to $81.89 Wednesday after the company reported better-than-expected third-quarter EPS and sales results.

What Happened?

Super Micro Computer reported quarterly earnings of $3.42 per share which beat the analyst consensus estimate of $2.36. The company also reported quarterly sales of $1.85 billion which beat the analyst consensus estimate of $1.61 billion by 15%. This is a 79% increase over sales of $1.03 billion in the same period last year.

"In Q1 fiscal 2023, our revenue reached a record $1.85 billion dollars, which makes it our 7th consecutive quarter of accelerating YoY growth," said Charles Liang, Chairman and CEO, of Super Micro Computer.

According to data from Benzinga Pro, Super Micro Computer has a 52-week high of $85.95 and a 52-week low of $34.11.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.