Micron (MU) Reports $41B Q3 Revenue, 346% Growth Year-over-Year
Published on Β· Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowMicron (MU) generated $41.456 billion in Q3 revenue, reflecting a 346% increase from $9.30 billion a year earlier. The company reported a non-GAAP EPS of $25.11, exceeding the consensus estimate of $20.28. With gross margins at 84.6%, the company expects a significant impact from AI demand in the memory industry. Guiding for Q4 revenue of $50 billion and EPS of $31.00 implies continued acceleration, despite warnings from Goldman Sachs about potential margin compressions due to increased HBM capacity by competitors such as SK Hynix and Samsung.
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About Micron Technology Inc. (MU)
Micron Technology is a leading maker of memory chips, spanning DRAM and NAND flash.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier MU news
- HSBC Insights: Micron (MU) Earnings Reflect Robust AI Demand
- Micron (MU) Revenue Surpasses $41 Billion Amid AI Demand Surge
- Micron (MU) Stock Surges 236% Amid AI Memory Chip Demand
- Memory Chip Makers See AI Surge as Prices Increase
- Micron (MU) Price Target Raised to $2,000 by DA Davidson
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