Micron's Earnings and Sales Surge

Micron Technology, Inc. (MU) is projected to post earnings of $0.46 per share for the current quarter, marking a year-over-year change of +132.2%. The earnings estimate for the current fiscal year is $0.80, indicating a change of +118% from the previous year. For the next fiscal year, the earnings estimate is $7, showing a change of +774.5% from what Micron is expected to report a year ago.

In terms of sales, the estimate for the current quarter is $6.62 billion, suggesting a year-over-year change of +76.4%. The estimates for the current and next fiscal years are $24.53 billion and $36.31 billion, respectively, indicating changes of +57.8% and +48%. In the last reported quarter, Micron reported revenues of $5.82 billion, a year-over-year change of +57.7%, and an EPS of $0.42, compared to -$1.91 a year ago.

Micron Technology has seen a 421.8% increase in shares. Seven analysts have revised their earnings estimate upwards for fiscal 2024, with an average earnings surprise of 69.6%. Earnings for MU are forecasted to see growth of 118% for the current fiscal year. The company has consistently beat earnings per share (EPS) estimates in each of the trailing four quarters and topped revenue estimates each time over this period.