Super Micro (SMCI) Q3 earnings report 2024 [Video]

Super Micro shares slipped as much as 15% in extended trading on Tuesday after the server maker reported slightly lower revenue than expected for its fiscal third quarter, even as it gave optimistic top-line guidance.

Here’s how the company did in comparison with LSEG consensus:

• Earnings per share: $6.65 adjusted vs. $5.78 expected
• Revenue: $3.85 billion, vs. $3.95 billion expected

The company’s revenue jumped 200% year over year in the quarter, which ended on March 31, according to a statement. That compared with a 103% year-over-year increase in the previous quarter. Net income came out to $402.5 million, or $6.56 per share, compared with $85.8 million, or $1.53 per share, in the year-ago quarter.

Super Micro is bumping up its fiscal 2024 revenue guidance to $14.7 billion to $15.1 billion from $14.3 billion to $14.7 billion. Analysts surveyed by LSEG had expected $14.60 billion. The middle of the new range implies approximately 582% year-over-year revenue growth.

“We are growing …