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Compared to Estimates, Micron (MU) Q1 Earnings: A Look at Key Metrics
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Micron (MU - Free Report) reported $4.73 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 15.7%. EPS of -$0.95 for the same period compares to -$0.04 a year ago.
The reported revenue represents a surprise of +1.47% over the Zacks Consensus Estimate of $4.66 billion. With the consensus EPS estimate being -$0.99, the EPS surprise was +4.04%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Micron performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue by Technology- DRAM: $3.43 billion versus the four-analyst average estimate of $3.27 billion. The reported number represents a year-over-year change of +21.1%.
Revenue by Technology- Other (primarily NOR): $69 million compared to the $62.58 million average estimate based on four analysts. The reported number represents a change of -54.9% year over year.
Revenue by Technology- NAND: $1.23 billion versus $1.24 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
Shares of Micron have returned +2.1% over the past month versus the Zacks S&P 500 composite's +5.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Micron (MU) Q1 Earnings: A Look at Key Metrics
Micron (MU - Free Report) reported $4.73 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 15.7%. EPS of -$0.95 for the same period compares to -$0.04 a year ago.
The reported revenue represents a surprise of +1.47% over the Zacks Consensus Estimate of $4.66 billion. With the consensus EPS estimate being -$0.99, the EPS surprise was +4.04%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Micron performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue by Technology- DRAM: $3.43 billion versus the four-analyst average estimate of $3.27 billion. The reported number represents a year-over-year change of +21.1%.
- Revenue by Technology- Other (primarily NOR): $69 million compared to the $62.58 million average estimate based on four analysts. The reported number represents a change of -54.9% year over year.
- Revenue by Technology- NAND: $1.23 billion versus $1.24 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
View all Key Company Metrics for Micron here>>>Shares of Micron have returned +2.1% over the past month versus the Zacks S&P 500 composite's +5.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.