FINANCE
2021-01-11 08:30:00
Micron Technologies shares rose 2.4% in published quarterly earnings, beating initial expectations amid improved outlook for semiconductor DRAM technology.
The analysis of Micron as a long-term idea has already been in this channel, so a few details from the released financial results for the first quarter of the fiscal year.
Revenue decreased compared to the fourth fiscal quarter, but increased compared to the previous reporting year, amounting to $ 5.77 billion, and gross profit increased to 30.9% from 27.3% last year.
Operating income rose 64% to $ 973 million, while relative (non-GAAP) net income also rose 64% to $ 897 million.
At the end of the quarter, liquidity amounted to $ 8.36 billion, and net cash - about $ 1.73 billion. Net investments in capital expenditures for the quarter were $ 2.78 billion.
In the current quarter, the company is focused on revenue of $ 5.6- $ 6 billion (above the analytical estimate of $ 5.52 billion), gross profit of 30-32%, operating expenses of $ 800- $ 850 million and expected earnings per share of $ 0 .68- $ 0.82 (above consensus for $ 0.64)
Yes, Micron is simultaneously a leader in DRAM and NAND and is in an excellent position to capitalize on the digital transformation of the global economy due to the increased demand for semiconductors.
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