Micron Technology, Inc.
(NASDAQ:MU) shares surged 15.84% in after-hours trading on Wednesday after the memory-chip maker delivered a blowout quarterly report and issued guidance that significantly exceeded Wall Street expectations.
Micron Crushes Estimates As AI Demand Drives Growth Micron reported third-quarter revenue of $41.46 billion, topping analyst estimates of $35.59 billion, while adjusted earnings came in at $25.11 per share, ahead of expectations for $20.63 per share.
Total revenue jumped approximately 346% from a year earlier.
The company also issued a strong forecast for the fourth quarter, projecting revenue of $50 billion, plus or minus $1 billion, and adjusted earnings of $31 per share, plus or minus $1.
