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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Micron share price up 1% on Q2 results revenue beat

The chipmaker's stock rises after a better-than-expected Q2 earnings report.

US dollar Source: Bloomberg

Micron share price is up 1% in volatile US afterhours trading after a positive second quarter(Q2) earnings report. The chipmaker’s Q4 earnings and revenue exceeded Wall Street expectations.

Micron earnings: key figures

Earnings per share $1.71
Revenue $5.84 billion
Net Income $1.62 billion

Micron share price up 1% after Q2 earnings revenue beats estimates

Micron’s share price has slightly risen after better-than-expected earnings. Micron’s earnings were $1.71, less than the company’s own projected $1.75, but better than financial experts’ predictions of $1.60. The company had higher profits because the chips Micron made were in high demand in cars and in data centers.

Micron’s revenue was $5.84 billion, slightly higher than the $5.8 billion of Wall Street estimates. Though Micron’s Q2 revenue was better-than-expected, it was a decline from $7.35 billion in 2018.

How did Micron’s Q2 results compare to other technology stocks?

Similar to chipmaker competitor, Nvidia, Micron has better-than-expected earnings. Both chipmakers had positive earnings reports.

What’s next for Micron’s Q3 profits?

For fiscal year 2019, financial experts predict that Micron’s Q3 earnings per share will be $7.18. They also project sales to be $24.65 billion, a drop of 19%. Micron offered weak guidance with a predicted Q3 revenue of $5.29 billion.

Micron survives oversupply of chips

Despite an excess of production of chips, Micron’s profits have shown a sign of growth. Chief executive officer, (CEO), Sanjay Mehrotra, said that Micron will continue to increase sales.

‘Micron continues to execute well across a range of product, operational and financial initiatives against the backdrop of a challenging market environment,’ said Mehrotra.

‘These initiatives and our focus on high-value solutions, cost competitiveness and innovation will enable us to emerge even stronger as the market environment improves,’ added Mehotra.

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