Why Supermicro Computer Stock Popped Today

Shares of Supermicro Computer (NASDAQ: SMCI), an IT solutions provider, jumped today after the company reported its third-quarter financial results. While the company missed analysts' consensus estimates for both its top and bottom lines, the company's reiteration of its full-year guidance made investors optimistic.

The tech stock was up by 27.9% as of 3:46 p.m. ET.

Supermicro reported non-GAAP (adjusted) earnings of $1.63 for the quarter, which was up from $1.55 in the year-ago quarter but missed Wall Street's average estimate of $1.71. The company missed revenue estimates as well. Supermicro's sales fell nearly 6% to $1.28 billion and were below analysts' consensus estimate of $1.39 billion for the quarter.

Source Fool.com