Semiconductor company Micron Technology (MU) reported positive top and bottom line results for the second quarter of 2018. Revenue climbed 58% year-over-year to $7.35 billion, driven by increased demand across the company’s products and end markets. GAAP net income more than tripled to $3.31 billion or $2.67 per diluted share.
Outlook
For third quarter of 2018, Micron estimates non-GAAP revenue to be in the range of $7.20-7.60 billion. On an adjusted basis, the company expects earnings to be in the range of $2.83 +/- $0.07 per share.
DRAM revenue accounted for 71% Micron’s total revenue in the recently ended quarter.
According to DRAMeXchange, global DRAM revenue grew 14.2% QoQ to $21.89 billion in 4Q17. DRAM revenue surged 76% year-over-year in 2017. Mobile DRAM revenue hit an all-time high of $8 billion during 4Q17 with Micron achieving QoQ sales growth of 58.8%. Global DRAM revenue is expected to reach $96 billion in 2018.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
