Micron Stock Surges after Beating Analyst Expectations in Q2 Earnings
Micron Q2 Earnings Performance
Shares of Micron (MU) are trading higher on Thursday after the company reported better-than-expected second-quarter earnings. Revenue for the quarter came in at $5.82 billion, beating analyst estimates of $5.35 billion. Adjusted earnings per share (EPS) also stood at $0.42, beating the expected $0.24 per share.
Optimistic Outlook for Micron
Sankar highlights that the surging demand for high bandwidth memory, where Micron is gaining traction, positively impacted the company's outlook for the next few years. Sankar emphasizes that the increasing utilization of Micron's products and facilities has led to a margin expansion story and sustained growth.
Products being used in applications like iPhones and PCs are driving demand and growth at Micron, according to Sankar. The company's stellar performance indicates a bright future ahead.
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