By Katherine Hamilton
Micron Technology is scheduled to report second-quarter financial results after the market closes on Thursday. Here is what you need to know.
REVENUE: The memory-chip maker is expected to report $7.9 billion in sales, up from $5.82 billion in the previous second quarter.
NET INCOME: The Boise, Idaho, company is expected to report a profit of $1.63 billion, compared with $793 million the year before.
ADJUSTED EARNINGS: Stripping out certain one-time items, earnings are expected to come in at $1.43 a share, up from 42 cents a share in the prior-year quarter.
The stock fell 2% during the quarter and recently traded around $101.87.
WHAT TO WATCH
Micron has issued a cautious outlook for this quarter because consumers last quarter weren't upgrading their personal computers as quickly as expected. Sales in the automotive market, for whom Micron is a memory and storage supplier, were dented last quarter due to lower production and car makers trimming inventory.
Analysts are expecting earnings to be in line with expectations because high-bandwidth memory demand has remained strong, offsetting elevated inventory across consumer-facing markets such as personal computers and smartphones.
Micron could offer a more pessimistic outlook for the third quarter, analysts say, due to lingering softness in memory pricing.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 19, 2025 14:09 ET (18:09 GMT)
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