Super Micro Computer Inc., a technology company, recently disclosed its financial performance for the third quarter. The company exceeded expectations with quarterly earnings per share of $6.65, surpassing the analyst consensus estimate of $5.78 by 15.05%. This marks a notable 307.98% increase compared to earnings from the same period in the previous year, which were $1.63 per share.
Although Super Micro Computer's quarterly sales of $3.85 billion missed the analyst consensus estimate of $3.952 billion by 2.58%, the figure still represents a substantial 200.08% increase year-over-year. The company's cash flow used in operations for the third quarter was reported at $1.52 billion, with capital expenditures totaling $93 million. Additionally, as of March 31, 2024, Super Micro had total cash and cash equivalents amounting to $2.115 billion, while total bank debt and convertible notes stood at $1.863 billion.
CEO of Supermicro, Charles Liang, expressed satisfaction with the quarterly results, highlighting the company's achievement of another record quarter with revenues reaching $3.85 billion and non-GAAP EPS hitting $6.65 per share. Looking ahead, the company provided an optimistic outlook for the fourth quarter, anticipating net sales to fall within the range of $5.1 billion to $5.5 billion and non-GAAP net income per diluted share to range between $7.62 to $8.42. Super Micro also adjusted its full-year 2024 guidance, predicting revenues from $14.7 billion to $15.1 billion, and estimating non-GAAP net income per diluted share to range between $23.29 to $24.09.
Despite the positive financial outcomes and raised guidance, Super Micro Computer Inc.'s stock price experienced an 8.01% decline in after-hours trading, dropping to $790 at the time of the publication.