Micron Tops Results in Q1, Delivers Upbeat Guidance on DRAM Momentum

Micron Tops Results in Q1, Delivers Upbeat Guidance on DRAM Momentum

Investing.com  | Jan 07, 2021 21:29

Micron Tops Results in Q1, Delivers Upbeat Guidance on DRAM Momentum

By Yasin Ebrahim

Investing.com - Micron reported fiscal second-quarter earnings guidance that topped estimates Tuesday, and first-quarter results that topped expectations as a recovery in chip memory demand underpinned by an acceleration in the growing number of moving into the digital age.

Micron Technology (NASDAQ:MU) shares gained 1% in after-hours trade following the report.

The company guided fiscal second-quarter EPS of 68 cents to 82 cents, above estimates for EPS of 64 cents, and revenue of $5.6 billion to $6.0 billion, just above consensus of $5.52 billion.

"We are excited about the strengthening DRAM industry fundamentals," said President and Chief Executive Sanjay Mehrotra. "For the first time in our history, Micron is simultaneously leading on DRAM and NAND technologies, and we are in an excellent position to benefit from accelerating digital transformation of the global economy fueled by AI, 5G, cloud, and the intelligent edge.”

Micron announced earnings per share of 78 cents on revenue of $5.77 billion. Analysts polled by Investing.com anticipated EPS of 69 cents on revenue of $5.66 billion.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (India) English (Canada) English (Australia) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the Investing.com App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.

Investing.com is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.