Overview
- Fiscal Q2 revenue reached about $12.68 billion, up 123% year over year, with adjusted EPS of $0.69 beating estimates.
- Management guided Q3 revenue to at least $12.3 billion with adjusted EPS of at least $0.60 and lifted full‑year revenue outlook to $40 billion.
- Gross margin fell to roughly 6.3%–6.4%, with management pointing to customer mix, tariffs, international expansion, and component shortages.
- Citi noted one customer accounted for more than 60% of revenue, while Wedbush and KeyBanc kept neutral stances pending several quarters of steadier execution.
- Shares jumped 13% after the report and then dropped 8.6% the next day, reflecting ongoing volatility despite a demand-driven rebound.