Super Micro Computer, Inc. reported a significant increase in financial performance for the second quarter of fiscal year 2024, which ended on December 31, 2023. The company, a global leader in IT solutions, announced net sales of $3.66 billion, a substantial rise from $2.12 billion in the previous quarter and $1.80 billion in the same quarter of the previous year. The gross margin stood at 15.4%, a slight decrease from the previous quarter's 16.7% and the same quarter last year's 18.7%. Net income saw a notable increase to $296 million, up from $157 million in the first quarter and $176 million in the same quarter of the prior year. Earnings per share (EPS) also rose, with diluted net income per common share at $5.10, compared to $2.75 in the first quarter and...Show More

Super Micro Computer, Inc. reported a significant increase in financial performance for the second quarter of fiscal year 2024, which ended on December 31, 2023. The company, a global leader in IT solutions, announced net sales of $3.66 billion, a substantial rise from $2.12 billion in the previous quarter and $1.80 billion in the same quarter of the previous year. The gross margin stood at 15.4%, a slight decrease from the previous quarter's 16.7% and the same quarter last year's 18.7%. Net income saw a notable increase to $296 million, up from $157 million in the first quarter and $176 million in the same quarter of the prior year. Earnings per share (EPS) also rose, with diluted net income per common share at $5.10, compared to $2.75 in the first quarter and $3.14 in the same quarter of the previous year. The non-GAAP diluted net income per common share was $5.59, adjusted for stock-based compensation expenses. The company's cash flow used in operations was $595 million, with capital expenditures of $15 million. As of December 31, 2023, Super Micro Computer had $726 million in cash and cash equivalents and a total bank debt of $376 million. CEO Charles Liang expressed confidence in the company's market leadership and raised the revenue outlook for fiscal year 2024 to between $14.3 billion and $14.7 billion. For the third quarter of fiscal year 2024, the company expects net sales of $3.7 billion to $4.1 billion, with GAAP and non-GAAP net income per diluted share projected to be between $4.79 to $5.64 and $5.20 to $6.01, respectively. The company's stock trades on the NASDAQ Global Select Market under the symbol SMCI.