SMCI Q2 2024 Earnings — Income Statement Breakdown
For its Q2 2024 period (ending 2023-12-31), SMCI reported revenue of $3.7B, gross profit of $564M (15.4% gross margin), operating income of $371M, and net income of $296M (8.1% net margin). The flow of revenue into costs and profit is visualized below.
What changed
SMCI was profitable; revenue grew 72.9% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +72.9% | +88.5% | +0.7 pp |
Consensus estimate data is not available for this report.
SMCI Q2 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $3.7B | 100% |
| Cost of Revenue | −$3.1B | 84.6% |
| Gross Profit | $564M | 15.4% |
| Research & Development | −$109M | 3.0% |
| Selling, General & Administrative | −$84M | 2.3% |
| Operating Income | $371M | 10.1% |
| Interest Expense | −$8M | 0.2% |
| Other Income, net | −$6M | 0.2% |
| Income Tax Expense | −$62M | 1.7% |
| Net Income | $296M | 8.1% |
Source: original SEC filing (filed 2024-01-29). Accession 0001375365-24-000008. Data normalized by EarningsFyi.