Micron Reports Blowout Earnings: Revenue Up 345% YoY, Stock Surges 12.68%
Summary
Micron Technology reported blowout quarterly earnings that smashed analyst expectations, with adjusted EPS of $25.11 versus $20.78 consensus and revenue surging 345.72% year over year to $41.456 billion. GAAP gross margins more than doubled to 84.6%. The company guided Q4 revenue to $50 billion with ~86% gross margins. The stock jumped 12.68% on earnings day, its strongest post-earnings move in eight quarters. Evercore analysts cited this as evidence that the AI-driven rally has sustainable earnings power.
Source
bskyMicron Reports Blowout Earnings: Revenue Up 345% YoY, Stock Surges 12.68%briefly.coKey quotes
· 5 pulledAdjusted EPS landed at $25.11 against a $20.78 consensus.
Revenue hit $41.456 billion, beating the Street by 17.6% and growing 345.72% year over year.
GAAP gross margin rose to 84.6% from 37.7% a year earlier.
Q4 guidance projected $50 billion revenue, non-GAAP EPS of $31.00, and about 86% gross margins.
The stock gained 12.68% on earnings day, its strongest post-earnings move in eight quarters.
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