Memory chipmaker Micron Technology Inc. (NASDAQ: MU) will be publishing third-quarter 2024 results today after regular trading hours, amid expectations for a sharp increase in revenues.
Listen to Micron’s Q3 2024 earnings call live and read the real-time transcript
The company is expected to post adjusted earnings of $0.48 per share for the May quarter, on an adjusted basis, which represents an improvement from the prior-year period when the company incurred a loss of $1.43 per share. The positive forecast reflects an estimated surge in revenues to $6.23 billion. Micron executives are looking for an adjusted profit of about $0.45 per share for Q3 on revenues of $6.60 billion.
In the second quarter of 2024, the company generated profit for the first time in about one-and-a-half years – adjusted earnings of $0.42 per share vs. a loss of $1.91 per share in Q2 2023. The recovery was driven by a 58% jump in revenue to $5.82 billion, with strong contributions from all four operating segments.