Micron shares jump on earnings beat, rosy guidance as data center revenue triples

Micron shares jump on earnings beat, rosy guidance as data center revenue triples


Signage outside the Micron offices in San Jose, California, on Dec. 17, 2024.

David Paul Morris | Bloomberg | Getty Images

Micron shares popped 6% in extended trading on Thursday after the company reported second-quarter results that beat analysts’ estimates and offered better-than-expected guidance.

Here’s how the company did:

  • Earnings per share: $1.56, adjusted vs. $1.42 expected by LSEG.
  • Revenue: $8.05 billion vs. $7.89 billion expected by LSEG.

Revenue increased 38% from $5.82 billion during the same period last year, Micron said in a press release. The memory and storage solutions company reported net income of $1.58 billion, or $1.41 per share, up from $793 million, or 71 cents per share, in the year ago quarter.

Data center revenue tripled, the company said.

Revenue for the fiscal third quarter will be about $8.8 billion, Micron said, topping the $8.5 billion average analyst estimate, according to LSEG. Adjusted earnings will be roughly $1.57 a share, the company said, beating the $1.47 average estimate.

Prior to Thursday’s close, Micron shares were up 22% for the year, while the Nasdaq is down more than 8%.

Micron will host its quarterly call with investors at 4:30 p.m. ET.



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