Shares of IT solutions provider Super Micro Computer (NASDAQ:SMCI) are soaring higher today on the back of its first-quarter performance.
Revenue surged 79.6% year-over-year to $1.85 billion, outperforming estimates by $130 million. EPS at $3.42 too, surged past estimates by $0.88.
Impressively, this was SMCI’s seventh consecutive quarter of accelerating year-over-year growth. The company’s green computing and Total IT Solutions continue to win market acceptance.
Looking ahead, for fiscal 2023, SMCI now expects revenue to land between $6.5 billion and $7.5 billion. EPS is estimated between $9 and $11.30.
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