Micron CEO Sanjay Mehrotra spoke at the Milton J. Rubenstein Museum in Syracuse, NY before President Joe Biden spoke at the Milton J. Rubenstein Museum in Syracuse, NY on April 25, 2024.
Andrew Caballero-Reynolds | AFP | Getty Images
Micrometer Wednesday’s revenue and revenue exceeded expectations, and a forecast was released that also higher than analysts’ estimates. The stock initially saw expansion trading before cutting most of its earnings.
Here is how the company compares to the LSEG consensus:
- Earnings per share: $1.91, adjusted with expected $1.60
- income: $9.3 billion vs. $8.87 billion
Micrometer explain According to LSEG, the current revenue is its fourth fiscal year revenue, at about $10.7 billion, up 38% from $7.75 billion a year ago, with an average analyst estimate of $9.9 billion.
Micron said data center revenues more than doubled in the third quarter as total sales rose 37% from $6.81 billion a year ago. The company’s demand for the high bandwidth memory (HBM) market soars, so AI Prosperity.
Micron CEO Sanjay Mehrotra said in a revenue release that the company is making “discipline investments to build our technological leadership and manufacturing excellence to meet growing AI-driven memory needs.”
Micron shares rose 51% for the year as of Wednesday, while Nasdaq shares rose 3.4%.
