Shares of Super Micro Computer (NASDAQ: SMCI) surged in pre-market trading on Thursday as the information technology company gave an upbeat fiscal Q1 business update.
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The company raised its net sales forecast for Q1 and now expects it to range between $1.78 billion and $1.82 billion from its prior guidance of $1.52 billion to $1.62 billion.
SMCI also expects adjusted earnings to come in the range of $3.05 to $3.20 per diluted share versus its earlier forecast between $2.07 and $2.32.
The company is expected to announce its fiscal Q1 results on November 1.