Micron share price up 1% on Q2 results revenue beat
The chipmaker's stock rises after a better-than-expected Q2 earnings report.
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.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
