On Tuesday, Super Micro shared a positive revenue outlook for the upcoming quarter, even though its first-quarter earnings didn’t meet expectations. The data center company also revealed plans for a stock split to take advantage of the increasing demand for artificial intelligence hardware, which is essential for AI applications.
Super Micro announced a 10-for-1 forward stock split, scheduled to begin trading on October 1.
For the fiscal first quarter, the company projected non-GAAP net income per diluted share to be between $6.69 and $8.27, with sales ranging from $6.0 billion to $7.0 billion. This compares to Wall Street’s forecast of $7.58 in earnings on $5.45 billion in revenue.
While the guidance surpassed expectations, the company’s earnings for the previous quarter fell short of analysts’ predictions.
In the quarter ending June 30, Super Micro, which counts Nvidia (NASDAQ: NVDA) among its clients, reported adjusted earnings of $6.25 per share on sales of $5.31 billion. Analysts surveyed by Investing.com had anticipated earnings of $8.10 per share on the same sales figures.
For the fiscal year 2025, Super Micro anticipates net sales between $26.0 billion and $30.0 billion, compared to estimates of $33.54 billion.
“Supermicro continues to experience record demand for new AI infrastructures,” the company stated.
Following the report, Super Micro Computer Inc (NASDAQ: SMCI) saw its shares decline by 8% in after-hours trading.
