The Micron Expertise headquarters in Boise, Idaho, on March 28, 2021.
Jeremy Erickson | Bloomberg | Getty Photographs
Shares of Micron popped greater than 12% in prolonged buying and selling on Wednesday after the corporate introduced second-quarter fiscal 2024 outcomes that beat analysts and supplied rosy steering. The corporate, which makes reminiscence and storage for computer systems, mentioned it has benefitted from the synthetic intelligence growth.
This is how the corporate did:
- Earnings per share: 42 cents adjusted vs. 25 cent loss anticipated by LSEG, previously often called Refinitiv.
- Income: $5.82 billion vs. 5.35 billion anticipated by LSEG.
Micron mentioned income rose to $5.82 billion from $3.69 billion within the 12 months in the past quarter. The corporate reported a web revenue of $793 million, up from a web lack of $2.3 billion in the identical interval final 12 months.
For its fiscal third quarter, Micron expects to report income of $6.6 billion, above the $6.02 billion anticipated by analysts.
“We consider Micron is without doubt one of the greatest beneficiaries within the semiconductor trade of the multi-year alternative enabled by AI,” Micron CEO Sanjay Mehrotra mentioned in a launch.
