By Katherine Hamilton
Micron Technology recorded higher-than-expected earnings in the second quarter and a more optimistic outlook on increasing demand.
The memory-chip maker on Thursday posted a profit of $1.58 billion, or $1.41 a share, in the quarter ended Feb. 27, compared with $793 million, or 71 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings was $1.56, ahead of the $1.43 forecast of analysts, according to FactSet.
Revenue rose 38% to $8.05 billion. Analysts surveyed by FactSet forecast revenue of $7.90 billion.
Chief Executive Sanjay Mehrotra said demand for its DRAM and NAND products is growing in both data center and consumer-oriented markets, putting it on track for record revenue in the third quarter and full year.
Micron expects $8.80 billion in revenue during the third quarter, plus or minus $200 million. That is ahead of the $8.48 billion expected by Wall Street, according to FactSet. It anticipates earnings of about $1.37 per share, plus or minus 10 cents, compared with the $1.32 analysts are forecasting.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 20, 2025 16:38 ET (20:38 GMT)
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