The CEO of Micron, Sanjay Mehrotra, speaks before President Joe Biden in Milton J. Rubenstein Museum in Syracuse, New York, April 25, 2024 gives comments on the chips and science act and his investment in America Agenda, in Milton J. Rubenstein in Syracuse, New York.
Andrew Caballero-Reynolds | AFP | Getty pictures
micron On Wednesday, he reported better than expected profits and income and published a forecast that also exceeded the estimates of the analysts. The stock first appeared in extended trade before most of their profits dash.
Here is how the company was compared to the LSEG consensus:
- Win each share: $ 1.91, adapted compared to USD 1.60
- Revenue: 9.3 billion US dollars expected compared to 8.87 billion US dollars
According to Micron, sales in the current period, its fourth quarter of the financial year, will be around 10.7 billion US dollars, an increase of 38% compared to $ 7.75 billion in the previous year and before the average analyst estimate of 9.9 billion dollars according to LSEG.
The sales of data centers more than doubled in the third quarter, said Micron when the total turnover of 6.81 billion US dollars rose by 37% a year ago. Due to the boom for artificial intelligence in the market for high -field or HBM, the company has determined increasing demand.
Sanjay Mehrotra, CEO of Micron, said in the publication of the profit that the company made “disciplined investments to build on our technology management and excellence for production in order to satisfy the growing AI-controlled memory demand”.
In the end on Wednesday, the micron shares rose by 51% a year, while the Nasdaq has increased 3.4%.
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