Micron Technology (NASDAQ: MU) reported quarterly results that exceeded analyst expectations, delivering stronger revenue and profitability metrics along with upbeat guidance.
The company posted revenue of $11.32 billion, surpassing estimates of $11.12 billion. Gross margin came in at 45.7%, above the 44.7% consensus, while non-GAAP earnings per share of $3.03 topped the expected $2.82.
Micron also issued stronger-than-anticipated fiscal first-quarter guidance. It projected revenue of $12.5 billion at the midpoint, well above Street expectations of $11.98 billion. The company forecast non-GAAP gross margin of 51.5%, significantly ahead of the 46.1% consensus, and projected non-GAAP earnings per share between $3.60 and $3.90, compared with the $3.09 analyst forecast.
