Micron Technology Revenue Surges 46%, Beats Earnings Expectations

Deep News09-24

Micron Technology reported better-than-expected earnings and revenue on Tuesday, along with strong guidance for the current quarter.

The stock rose in after-hours trading.

Earnings per share: $3.03 adjusted, versus $2.86 expected.

Revenue: $11.32 billion, versus $11.22 billion expected.

Micron Technology stated that current quarter (first quarter) revenue will be approximately $12.5 billion, above the average estimate of $11.94 billion from LSEG analysts.

The company reported quarterly net income of $3.2 billion, or $2.83 per share, compared to $887 million, or $0.79 per share, in the same period last year.

Micron Technology shares have nearly doubled in 2025 so far. The company manufactures memory and storage devices, which are essential components of computers. Micron Technology has been one of the winners of the artificial intelligence boom, as high-end AI chips produced by companies like NVIDIA require increasingly sophisticated high-bandwidth memory, which Micron Technology produces.

Micron Technology CEO Sanjay Mehrotra said in a statement: "As the only U.S.-based memory manufacturer, Micron Technology is uniquely positioned to capitalize on future AI opportunities."

The company's overall revenue increased 46% year-over-year for the quarter.

Micron Technology's largest division – selling memory to cloud providers – reported quarterly sales of $4.54 billion, more than tripling compared to the same period last year.

However, the company's core data center business segment saw sales decline 22% year-over-year to $1.57 billion.

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