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Micron Sanjay Mehrotra CEO appears before President Joe Biden’s comments in the law on chips and science and his investment in the agenda of America, at the Milton J. Rubenstein in Syrakuz, New York, April 25, 2024.
Andrew Cabalera-Rinold | AFP | Gets the image
Micron It is reported higher than expected, profit and profit on Wednesday and issued a forecast, which also led the analysts’ estimates. Initially, the stock jumped into long bidding before breaking most of their income.
Here’s how the company did compared to the LSEG consensus:
- Profit per share: 1.91 dollars, adjusted against $ 1.60, expected
- Income: $ 9.3 billion is expected against $ 8.87 billion
Micron – Note According to LSEG, revenue in the current period, its financial fourth quarter will be about $ 10.7 billion, which is 38% compared to $ 7.75 billion a year and ahead of the average analytics estimate of $ 9.9 billion.
Micron said the revenue of the data center has doubled as the total sales increased by 37% from $ 6.81 billion a year ago. The company saw as increasing demand in memory with high bandwidth either on the HBM market due Artificial intelligence Boom.
Sanji Mehrotrath, Micron CEO, said in a profit release that the company is making “disciplined investments to rely on our technological guidance and making excellence to meet the growing AI demand.”
As of the closure of the Wednesday, Micron’s shares increased by 51% a year, and NASDAQ acquired 3.4%.
