Micron Technology Surprises with 57.7% Revenue Growth and Exceeds Analyst Expectations

Micron Technology reported revenue of $5.82 billion in the quarter ending in February 2024, which was a 57.7% increase from the same period the previous year. The company’s earnings per share (EPS) for the quarter was $0.42, compared to -$1.91 in the year-ago quarter. These results exceeded the Zacks Consensus Estimate of $5.33 billion by 9.25%, while the EPS surprise was +255.56% compared to the consensus estimate of -$0.27.

Micron Technology’s financial health is evaluated based on key metrics, and comparing these metrics with year-ago numbers and analyst estimates can provide insights into a stock’s potential price performance. In terms of revenue by technology, DRAM was $4.16 billion, surpassing the estimated $3.89 billion from four analysts on average, representing a +52.8% change from the previous year. Revenue by Technology- Other, mainly NOR, came in at $99 million compared to the $62 million average estimate from four analysts, a +15.1% year-over-year change. Revenue by Technology- NAND came in at $1