Micron returns to profitability in Q3

(CercleFinance.com) - Micron Technology reported non-GAAP net income of $702 million for its third accounting quarter on Wednesday evening, representing EPS of $0.
62, compared with a loss of $1.43 for the same period a year earlier.

The chipmaker's sales came in at $6.81 billion, up 81% year-on-year and 17% sequentially, exceeding its forecast range thanks in particular to strong demand in AI.

We are gaining market share in high-margin products such as high-bandwidth memory (HBM), and sales of our data center SSDs have reached record levels", says CEO Sanjay Mehrotra.

For its fourth quarter 2023-24, the Boise, Idaho-based group says it expects adjusted EPS of $1.08, give or take eight cents, and revenues of $7.6 billion, give or take $200 million.

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