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Micron (MU) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

Micron (MU) reported $6.81 billion in revenue for the quarter ended May 2024, representing a year-over-year increase of 81.5%. EPS of $0.62 for the same period compares to -$1.43 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $6.7 billion, representing a surprise of +1.65%. The company delivered an EPS surprise of +24.00%, with the consensus EPS estimate being $0.50.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Micron performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue by Technology- DRAM: $4.69 billion versus $4.74 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +75.6% change.

  • Revenue by Technology- Other (primarily NOR): $54 million versus $99.38 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -19.4% change.

  • Revenue by Technology- NAND: $2.07 billion versus the four-analyst average estimate of $1.86 billion. The reported number represents a year-over-year change of +103.9%.

View all Key Company Metrics for Micron here>>>

Shares of Micron have returned +8.2% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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Micron Technology, Inc. (MU) : Free Stock Analysis Report

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Zacks Investment Research