Micron beats by $0.03, reports revs in-line; guides Q2 EPS below consensus, revs below consensus
4:07 PM ET 12/18/24 | Briefing.com
Reports Q1 (Nov) earnings of $1.79 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $1.76; revenues rose 84.3% year/year to $8.71 bln vs the $8.71 bln FactSet Consensus.Data center revenue grew over 40% sequentially and over 400% year over year.Non-GAAP gross margin of 39.5% compared to 36.5% in Q4.Co issues downside guidance for Q2, sees EPS of $1.43, +/- $0.10, equating to $1.33-$1.53, excluding non-recurring items, vs. $1.91 FactSet Consensus; sees Q2 revs of $7.90 bln, +/- $200 mln, equating to $7.70-$8.10 bln vs. $8.94 bln FactSet Consensus."While consumer-oriented markets are weaker in the near term, we anticipate a return to growth in the second half of our fiscal year. We continue to gain share in the highest margin and strategically important parts of the market and are exceptionally well positioned to leverage AI-driven growth to create substantial value for all stakeholders." |
