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.
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.
