Super Micro Computer Inc. shares rallied in the extended session Monday after the server and data-storage company raised its forecast for the March-ending quarter.
shares rallied more than 14% after hours, following a 0.3% rise to close the regular session at $36.61. As of Monday’s close, shares are down 6.5% over the past 12 months, versus a 4.9% gain in the S&P 500 Index
The company hiked its forecast earnings range to between $1.40 and $1.50 a share on revenue of $1.3 billion to $1.35 billion, up from a previous forecast of 70 cents to 90 cents a share on revenue of $1.1 billion to $1.2 billion.
Analysts surveyed by FactSet had estimated earnings of 80 cents a share on revenue of $1.14 billion based on the former outlook.
The company cited no other factor for the hike than “strong growth in customer demand and our total IT solution value.”
Super Micro is scheduled to report fiscal third-quarter results on May 3.