Micron (MU) Reports Earnings Tomorrow: What To Expect
Memory chips maker Micron (NYSE:MU) will be announcing earnings results this Wednesday afternoon. Here’s what you need to know.
Micron beat analysts’ revenue expectations last quarter, reporting revenues of $13.64 billion, up 56.7% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS and adjusted operating income estimates.
Is Micron a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Micron’s revenue to grow 147% year on year, improving from the 38.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Micron rarely misses Wall Street’s revenue estimates.
With Micron being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for semiconductors stocks. However, the whole sector has faced a sell-off over the last month with stocks in Micron’s peer group down 6% on average. Micron is up 12% during the same time .
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