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Here's What Key Metrics Tell Us About Micron Technology (MU) Q2 Earnings
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For the quarter ended February 2024, Micron (MU - Free Report) reported revenue of $5.82 billion, up 57.7% over the same period last year. EPS came in at $0.42, compared to -$1.91 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.33 billion, representing a surprise of +9.25%. The company delivered an EPS surprise of +255.56%, with the consensus EPS estimate being -$0.27.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Micron Technology performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue by Technology- DRAM: $4.16 billion versus $3.89 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +52.8% change.
Revenue by Technology- Other (primarily NOR): $99 million compared to the $62 million average estimate based on four analysts. The reported number represents a change of +15.1% year over year.
Revenue by Technology- NAND: $1.57 billion versus $1.39 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +77.1% change.
Shares of Micron Technology have returned +18.1% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Here's What Key Metrics Tell Us About Micron Technology (MU) Q2 Earnings
For the quarter ended February 2024, Micron (MU - Free Report) reported revenue of $5.82 billion, up 57.7% over the same period last year. EPS came in at $0.42, compared to -$1.91 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.33 billion, representing a surprise of +9.25%. The company delivered an EPS surprise of +255.56%, with the consensus EPS estimate being -$0.27.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Micron Technology performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue by Technology- DRAM: $4.16 billion versus $3.89 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +52.8% change.
- Revenue by Technology- Other (primarily NOR): $99 million compared to the $62 million average estimate based on four analysts. The reported number represents a change of +15.1% year over year.
- Revenue by Technology- NAND: $1.57 billion versus $1.39 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +77.1% change.
View all Key Company Metrics for Micron Technology here>>>Shares of Micron Technology have returned +18.1% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.