Micron: quarterly earnings up 38%
(CercleFinance.com) - On Thursday evening, Micron posted adjusted EPS up close to 38% year-on-year, at 2.
59 dollars with adjusted operating margin improvement of 4.5 points to 36.4%, representing record revenues, up 16.4% to 8.64 billion.
"Recently, the industry demand environment has weakened, and we are taking action to moderate our supply growth in fiscal 2023", says CEO Sanjay Mehrotra.
The semi-conductor group's head says that they are "confident about the long-term secular demand for memory and storage and are well positioned to deliver strong cross-cycle financial performance."
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