Micron beats by $0.67, beats on revs; guides Q3 EPS above consensus, revs above consensus
4:08 PM ET 3/20/24 | Briefing.com
Reports Q2 (Feb) earnings of $0.42 per share, excluding non-recurring items, $0.67 better than the FactSet Consensus of ($0.25); revenues rose 57.7% year/year to $5.82 bln vs the $5.35 bln FactSet Consensus.Non-GAAP gross margin 20.0% compared to 0.8% in Q1.Co issues upside guidance for Q3, sees EPS of $0.45, +/- $0.07, equating to EPS of $0.38-$0.52, excluding non-recurring items, vs. $0.09 FactSet Consensus; sees Q3 revs of $6.60 bln, +/- $200 mln, equating to revenue of $6.4-$6.8 bln vs. $6.0 bln FactSet Consensus. Sees non-GAAP gross margin of 26.5%, +/- 1.5%."Our preeminent product portfolio positions us well to deliver a strong fiscal second half of 2024. We believe Micron is one of the biggest beneficiaries in the semiconductor industry of the multi-year opportunity enabled by AI."
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