Chipmaker Micron Technology on Tuesday reported quarterly results that beat Wall Street expectations and also issued strong guidance, sending its shares up more than 3% in extended trading.
The Boise, Idaho-based posted fiscal fourth-quarter earnings of $3.03 per share, excluding items, compared with analysts’ estimate of $2.77.
Revenue rose to $11.32 billion from $7.75 billion a year earlier, topping expectations of $11.11 billion.
For the current quarter, Micron forecast earnings of $3.60 to $3.90 per share and revenue between $12.2 billion and $12.8 billion. Analysts on average had expected earnings of $3.05 per share and revenue of $11.91 billion.
The company said record fourth-quarter and full-year revenue was driven by demand for AI data center chips. Annual revenue jumped to $37.38 billion from $25.11 billion last year, while net income more than doubled to $8.54 billion.
CEO Sanjay Mehrotra said Micron ended fiscal 2025 with “exceptional Q4 performance” and was entering the new year with its “most competitive portfolio to date.”
“As the only U.S.-based memory manufacturer, Micron is uniquely positioned to capitalize on the AI opportunity ahead,” said Mehrotra in the press release.
Source :
https://www.investing.com/news/earnings/micron-beats-q4-forecasts-strong-quarter-on-aidriven-demand-4252029
