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Super Micro Computer Inc. shares rallied in the extended session Wednesday after the server and data-storage company hiked its outlook for a second quarter in a row just before its earnings report.
Super Micro
SMCI,
shares surged 22% after hours, following a 4.1% rise to close the regular session at $45.57.
The company said it expects adjusted earnings of $2.30 to $2.40 a share on revenue between $1.58 billion and $1.63 billion, up from a previous forecast $1.51 to $1.69 a share on revenue of $1.4 billion to $1.48 billion.
Analysts surveyed by FactSet had forecast earnings of $1.58 a share on revenue of $1.43 billion.
The company similarly hiked its forecast back in April a few weeks ahead of its earnings report. Super Micro is scheduled to report earnings for the June-ending, or its fourth fiscal, quarter on Aug. 8.
At Wednesday’s close, shares of Super Micro were trading up about 4% over the year, compared with a 17% decline in the S&P 500 index
SPX,
