Micron Shares Rise On Earnings, Revenue Beat

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Investing.com — Micron Technology Inc (NASDAQ:MU) announced earnings per share of $2.16 on revenue of $7.69 billion. Analysts polled by Investing.com anticipated EPS of $2.10 on revenue of $7.68 billion.

Micron Technology President and CEO Sanjay Mehrotra said the solid results for the quarter were led by its “strong product portfolio momentum.”

“We are now shipping our industry-leading DRAM and NAND technologies across major end markets, and we delivered new solutions to data center, client, mobile, graphics and automotive customers. As powerful secular trends including 5G, AI, and EV adoption fuel demand growth, our technology leadership and world-class execution position us to create significant shareholder value in fiscal 2022 and beyond,” added Mehrotra.

Micron shares are up over 7% following the release.

Looking ahead, the company sees revenue for the next quarter coming in at between $7.3 billion to $7.7 billion, with EPS coming in between $1.85 and $2.05.