After the market closed yesterday, $Micron Technology (MU.US)$ The latest financial results were announced, with performance in the quarter exceeding market expectations and providing optimistic earnings guidance (Beat and Raise). Micron's stock price surged, sweeping away the previous slump, rising nearly 15% in after-hours trading, and continuing to rise as of the night trading price at the time of writing.
In the fourth quarter of 2024 (June-August), the company's revenue was $7.75 billion, a year-on-year increase of 93.3%, market expectations were $7.66 billion; adjusted EPS was $1.18, turning a loss into a profit year-on-year, market expectations were $1.12. Revenue for the next quarter is expected to be between $8.5 billion and $8.9 billion, with adjusted EPS guidance of $1.66 to $1.82, all exceeding Wall Street expectations.
Micron's management stated that the company is currently in the "best competitive position in history", with substantial records expected in the 2025 fiscal year, and significant improvements in profitability. As a leader in memory chips, Micron's production of High Bandwidth Memory (HBM) has become a core product in the AI era. Among all memory chips, HBM is considered most suitable for artificial intelligence training and inference.
In the last quarter, Micron's performance exceeded expectations but guidance fell short, leading to a continued pullback in the stock price. This quarter's performance and guidance both showed impressive results, taking into account the post-market gains, with the stock price already breaking through the necklines formed at the end of August.