What: Shares of Super Micro Computer (NASDAQ:SMCI) have jumped today, up by 14% as of 11 a.m. ET, after the company reported fiscal second-quarter earnings results.
So what: Revenue in the second quarter rose 27% to $639 million, which resulted in net income of $34.7 million, or $0.67 per share. On an adjusted basis, non-GAAP net income was $38 million, or $0.73 per share. Server offerings comprised over 70% of revenue during the quarter, a higher concentration than a year ago.
Now what: The company currently has $172.6 million in cash and equivalents, and generated $71.7 million in free cash flow in the latter half of 2015. Guidance was also solid, with third-quarter revenue expected in the range of $530 million to $580 million. Adjusted earnings per share should be $0.43 to $0.53. It was a record quarter, according to CEO Charles Liang, and storage solutions also helped drive growth.
Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.