Micron Technology Inc. (NASDAQ: MU) reported stronger-than-expected revenues and earnings for the second quarter. The market responded positively to the impressive results and the chipmaker’s stock gained during Wednesday’s extended trading session.
Second-quarter profit, excluding one-off items, more than doubled to $0.98 per share from $0.45 per share a year ago. The bottom-line growth was driven by a 30% increase in revenues to $6.24 billion.
Unadjusted profit was $603 million or $0.53 per share, compared to $405 million or $0.36 per share in the second quarter of 2020.
“Our technology leadership in both DRAM and NAND places Micron in an excellent position to capitalize on the secular demand driven by AI and 5G, and to deliver new levels of user experience and innovation across the data center and intelligent edge,” said Micron’s CEO Sanjay Mehrotra.
Both revenues and earnings exceeded the consensus estimate. Micron’s stock closed Wednesday’s regular session higher and continued to gain in the after-hours.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
PepsiCo Inc. (NASDAQ: PEP) reported first-quarter 2021 earnings results today. Net revenues increased 6.8% year-over-year to $14.82 billion while organic revenue growth was 2.4%. Net income attributable to PepsiCo was $1.7 billion,
The pandemic has had a mixed impact on the healthcare sector since its outbreak more than a year ago, putting the emergency care department into overdrive while slowing down the
Shares of Pfizer Inc. (NYSE: PFE) have gained over 8% in the past one year. Pfizer is at the forefront of the COVID-19 vaccination drive and it has established a