Micron shares jump on earnings beat, rosy guidance as data center revenue triples

Signage outside the Micron offices in San Jose, California, on Dec. 17, 2024. Micron shares popped 6% in extended trading Thursday after the company reported second-quarter results that beat analysts' estimates and offered better-than-expected guidance. Here's how the company did: Earnings per share: $1.56, adjusted vs. $1.42 expected by LSEG $1.56, adjusted vs. $1.42 expected by LSEG Revenue: $8.05 billion vs. $7.89 billion expected by LSEG Revenue increased 38% from $5.82 billion during the same period in 2024, Micron said in a press release. The memory and storage solutions company reported net income of $1.58 billion, or $1.41 per share, up from $793 million, or 71 cents per share, in the year-ago quarter. Data center revenue tripled, the company said. Revenue for the fiscal third quarter will be about $8.8 billion, Micron said, topping the $8.5 billion average analyst estimate, according to LSEG. Adjusted earnings will be roughly $1.57 a share, the company said, beating the ... Read full article.