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Q3 26 EPS
$0.84
BEAT +34.51%
Est. $0.62
Q3 26 Revenue
$10.24B
MISS 17.75%
Est. $12.45B
vs S&P Since Q3 26
+10.4%
BEATING MARKET
SMCI +10.3% vs S&P -0.1%
Market Reaction
Did SMCI Beat Earnings? Q3 2026 Results
Super Micro Computer delivered a split verdict in fiscal Q3 2026, posting an earnings beat that was overshadowed by a meaningful revenue shortfall. The AI server maker earned $0.84 per diluted share on a non-GAAP basis, ahead of the $0.62 consensus e… Read more Super Micro Computer delivered a split verdict in fiscal Q3 2026, posting an earnings beat that was overshadowed by a meaningful revenue shortfall. The AI server maker earned $0.84 per diluted share on a non-GAAP basis, ahead of the $0.62 consensus estimate by 34.51%, but net sales of $10.24 billion fell roughly 17.75% short of the $12.45 billion Wall Street had anticipated, even as revenue more than doubled the $4.60 billion reported a year ago, a 122.7% year-over-year gain. The key story behind the profit beat was a sharp margin recovery, with GAAP gross margin climbing to 9.9% from just 6.3% in the prior quarter, partially offsetting concerns about sequential revenue softness. The results carry an asterisk, however, as the figures remain preliminary and unaudited while the Board conducts an independent review tied to export-control matters. Ahead of the print, analysts had flagged legal and governance risks as overhangs. Looking ahead, management guided Q4 revenue of $11.00 billion to $12.50 billion and full-year fiscal 2026 sales of $38.90 billion to $40.40 billion.
Key Takeaways
- • Gross margin recovery to 9.9% GAAP and 10.1% non-GAAP from 6.3% sequentially
- • Rapid growth in DCBBS business
- • Revenue more than doubled year-over-year from $4.6 billion to $10.2 billion
- • Net income grew to $483 million from $109 million year-over-year
SMCI Forward Guidance & Outlook
For Q4 FY2026 (ending June 30, 2026), Supermicro expects net sales of $11.0 billion to $12.5 billion, GAAP diluted EPS of $0.53 to $0.67, and non-GAAP diluted EPS of $0.65 to $0.79, assuming tax rates of approximately 19.4% (GAAP) and 20.4% (non-GAAP) and diluted share counts of 695 million (GAAP) and 712 million (non-GAAP). Q4 guidance includes approximately $95 million in expected stock-based compensation, net of $30 million in related tax effects. For full fiscal year 2026, the company expects net sales of $38.9 billion to $40.4 billion.
SMCI YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
“Supermicro's transformation into a total datacenter infrastructure provider is accelerating. Our margin recovery and the rapid growth of our DCBBS business demonstrate that our business remains robust. With the addition of our new US manufacturing facilities in Silicon Valley, we are exceptionally well-positioned to meet the massive demand for various AI and enterprise verticals.”
— Charles Liang, Q3 2026 Earnings Press Release
SMCI Earnings Trends
SMCI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SMCI EPS Trend
Earnings per share: estimate vs actual
SMCI Revenue Trend
Quarterly revenue: estimate vs actual
SMCI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $0.62 | $0.84 | +34.51% | $10.24B | -17.75% |
| Q2 26 BEAT | $0.49 | $0.69 | +41.42% | $12.68B | +22.64% |
| Q1 26 MISS | $0.39 | $0.35 | -10.07% | $5.02B | -13.42% |
| Q4 25 MISS FY | $0.44 | $0.41 | -6.58% | $5.76B | -2.64% |
| FY Full Year | — | $2.06 | — | $21.97B | — |
| Q3 25 BEAT | $0.30 | $0.31 | +3.78% | $4.60B | -8.92% |