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Micron Soars 13% After Chipmaker Posts Record Revenue And Positive Guidance
Key takeaways
- Topline Micron shares rocketed Wednesday after the chipmaker reported the most profitable quarter in its history, further cementing its role as a beneficiary of the artificial intelligence infrastructure boom.
- Micron reported third-quarter revenue of $41.4 billion, up from $9.3 billion in the same period a year ago, according to a filing.
- Adjusted diluted earnings per share came in at $25.11, a massive jump from the $1.91 posted in the year-ago quarter, while net income reached $28.24 billion.
Topline Micron shares rocketed Wednesday after the chipmaker reported the most profitable quarter in its history, further cementing its role as a beneficiary of the artificial intelligence infrastructure boom.
Micron shares rocketed Wednesday.Photo by Jonathan Raa/Nur Photo via Getty Images Key Facts Micron shares briefly jumped more than 15% in extended trading Wednesday after it closed the day down a fraction of a percent.
Micron reported third-quarter revenue of $41.4 billion, up from $9.3 billion in the same period a year ago, according to a filing.
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