NASDAQ$SMCI
Super Micro Computer, Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported record revenue and earnings, driven by strong demand for AI solutions.
Supermicro reported record Q3 fiscal year 2024 results, with revenue of $3.85 billion and non-GAAP EPS of $6.65, driven by strong demand for AI rack scale PnP solutions and innovative DLC designs. The company is raising its fiscal year 2024 revenue outlook to a range of $14.7 to $15.1 billion.
- Net sales reached $3.85 billion, a 200% increase year-over-year.
- Net income was $402 million, compared to $86 million in the same quarter last year.
- Diluted net income per common share was $6.56, up from $1.53 year-over-year.
- Non-GAAP diluted net income per common share was $6.65, compared to $1.63 in the same quarter of last year.
Headline financials
Revenue & EPS history
Supermicro · Revenue · Quarterly
$3.85B
Forward guidance
For the fourth quarter of fiscal year 2024, Supermicro expects net sales of $5.1 billion to $5.5 billion, GAAP net income per diluted share of $7.20 to $8.05 and non-GAAP net income per diluted share of $7.62 to $8.42. For fiscal year 2024, the company is raising its guidance for revenues from a range of $14.7 billion to $15.1 billion and establishing guidance for GAAP net income per diluted share of $21.61 to $22.46 and non-GAAP net income per diluted share of $23.29 to $24.09.
Tailwinds
- Net sales are expected to be between $5.1 billion and $5.5 billion.
- GAAP net income per diluted share is projected to be $7.20 to $8.05.
- Non-GAAP net income per diluted share is expected to be $7.62 to $8.42.
- Fiscal year 2024 revenue guidance is raised to $14.7 billion to $15.1 billion.
- GAAP net income per diluted share for fiscal year 2024 is projected to be $21.61 to $22.46.
Headwinds
- GAAP net income per diluted share includes approximately $30 million in expected stock-based compensation for Q4.
- GAAP net income per diluted share includes approximately $116 million in expected stock-based compensation for fiscal year 2024.
- Assumed tax rate of approximately -2.9% for GAAP net income per diluted share for Q4.
- Assumed tax rate of approximately 2.6% for non-GAAP net income per diluted share for Q4.
- Assumed tax rate of approximately 3.6% for GAAP net income per diluted share for fiscal year 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+3.4%
Avg return
Earnings day
+3.9%
Avg return
5 days after
+13.6%
Avg return
30 days after
61%
39 / 64 earnings
Positive
+33.7%
Q3 2022
Best reaction
-24.7%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -0.5% | +21.8% | +49.3% | |
| Q2 2026 | +13.8% | +13.0% | +5.5% | |
| Q1 2026 | -1.7% | -15.2% | -26.8% | |
| Q3 2025 | -1.2% | +1.8% | +26.1% | |
| Q1 2025 | -3.5% | +2.2% | -13.7% | |
| Q2 2025 | +2.8% | +24.1% | +9.2% | |
| Q4 2024 | -19.1% | -16.4% | -31.9% | |
| Q3 2024 | -17.1% | -12.1% | -7.0% | |
| Q2 2024 | +8.2% | +22.2% | +72.2% | |
| Q1 2024 | +2.7% | +5.5% | +12.6% | |
| Q4 2023 | -24.7% | -28.0% | -24.3% | |
| Q3 2023 | +27.5% | +30.6% | +119.8% | |
| Q2 2023 | +10.5% | +16.9% | +36.4% | |
| Q1 2023 | +16.1% | +10.1% | +30.1% | |
| Q4 2022 | +4.3% | +6.9% | +6.4% | |
| Q3 2022 | +33.7% | +20.8% | +30.9% | |
| Q2 2022 | +8.1% | -5.7% | +3.9% | |
| Q1 2022 | +14.2% | +27.1% | +16.9% | |
| Q4 2021 | -0.3% | -6.7% | -6.2% | |
| Q3 2021 | -2.7% | -2.3% | -2.3% | |
| Q2 2021 | +4.8% | +1.3% | +3.4% | |
| Q1 2021 | +23.5% | +21.6% | +29.0% | |
| Q4 2020 | -13.9% | -13.6% | -15.8% | |
| Q3 2020 | +15.5% | +8.9% | +29.9% | |
| Q2 2020 | -6.4% | -1.6% | -14.3% | |
| Q1 2020 | -3.2% | -2.2% | +18.1% | |
| Q4 2019 | +9.8% | +6.4% | +27.6% | |
| Q2 2018 | +9.8% | +6.4% | +27.6% | |
| Q1 2019 | +9.8% | +6.4% | +27.6% | |
| Q3 2019 | +9.8% | +6.4% | +27.6% | |
| Q2 2019 | +9.8% | +6.4% | +27.6% | |
| Q1 2018 | +9.8% | -0.2% | +2.6% | |
| Q4 2018 | -2.5% | -3.8% | +2.0% | |
| Q3 2018 | -0.8% | -0.8% | +7.7% | |
| Q4 2017 | +0.4% | -0.7% | -0.7% | |
| Q3 2017 | -1.2% | -3.8% | -1.6% | |
| Q2 2017 | -6.3% | -7.0% | -5.1% | |
| Q1 2017 | +9.9% | +2.9% | +21.2% | |
| Q4 2016 | +4.9% | +4.4% | +7.8% | |
| Q3 2016 | -6.3% | — | — | |
| Q2 2016 | +9.2% | — | — | |
| Q1 2016 | +12.2% | — | — | |
| Q4 2015 | +4.9% | — | — | |
| Q3 2015 | -14.0% | — | — | |
| Q2 2015 | -2.8% | — | — | |
| Q1 2015 | +13.4% | — | — | |
| Q4 2014 | -7.5% | — | — | |
| Q3 2014 | +2.1% | — | — | |
| Q2 2014 | +27.8% | — | — | |
| Q1 2014 | -4.9% | — | — | |
| Q4 2013 | +11.0% | — | — | |
| Q3 2013 | -2.5% | — | — | |
| Q2 2013 | +21.4% | — | — | |
| Q1 2013 | -12.8% | — | — | |
| Q4 2010 | +0.8% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2011 | -2.4% | — | — | |
| Q3 2012 | +5.2% | — | — | |
| Q2 2011 | +0.6% | — | — | |
| Q2 2012 | +1.8% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q1 2012 | +0.6% | — | — | |
| Q3 2010 | +5.3% | — | — |
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