Semiconductor firm Micron Technology Inc. (NASDAQ: MU) reported stronger-than-expected revenues and earnings for the third quarter of 2021.
Third-quarter profit, excluding one-off items, more than doubled to $1.88 per share from $0.82 per share a year ago. The bottom-line growth was driven by a 36% increase in revenues to $7.42 billion.
Unadjusted profit was $1.74 billion or $1.52 per share, compared to $803 million or $0.71 per share in the third quarter of 2020. Both revenues and earnings exceeded the consensus estimate.
“Our industry-leading 1α DRAM and 176-layer NAND now represent a meaningful portion of our production, and Micron is in the best position ever to capitalize on the long-term demand trends across the data center, intelligent edge and user devices,” said Micron’s CEO Sanjay Mehrotra.
Micron’s stock closed Wednesday’s regular session higher but declined in the after-hours trading.
Stocks you may like:
Shares of the Walt Disney Company (NYSE: DIS) have been rallying since the entertainment leader delivered strong results for its third quarter of 2022 a day ago. The stock was
Kohl’s Corporation (NYSE: KSS) has been on investors' radar ever since the retailer put itself up for sale earlier this year, after coming under pressure from activist investors. Putting an
Entertainment behemoth The Walt Disney Company (NYSE: DIS) on Wednesday reported higher revenues and earnings for the third quarter of 2022. The results also topped expectations. Third-quarter revenues of the Los