Micron Technology Inc. (NASDAQ: MU) Tuesday said its second-quarter revenues and profit increased in double-digits, aided by strong demand growth. The results also came in above the market’s projection.
On an adjusted basis, second-quarter profit rose sharply to $2.14 per share from $0.98 per share a year ago. The impressive bottom-line performance reflects a 25% growth in revenues to $7.79 billion.
Unadjusted net income was $2.26 billion or $2.00 per share, compared to $603 million or $0.53 per share in the second quarter of 2021. Both revenues and earnings exceeded the consensus estimate.
“We’re leading the industry in technology across DRAM and NAND, and our product portfolio momentum is accelerating. With outstanding first-half results, Micron is on track to deliver record revenue and robust profitability in fiscal 2022,” said Micron’s CEO Sanjay Mehrotra.
Read management/analysts’ comments on Micron’s Q2 earnings
Micron’s stock closed Tuesday’s regular trading higher and continued to gain during the extended session after the announcement. In the past six months, the shares have gained 16%.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
Target (TGT): A look at some of the challenges faced by the retailer in 3Q24
Shares of Target Corporation (NYSE: TGT) stayed green on Thursday, recovering from the stumble it took a day ago after delivering disappointing results for the third quarter of 2024 and
