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.