March 21, 2024 (Globalinvestorideas.com Newswire) AI Stock News Bite – Micron Technology, Inc. (Nasdaq: MU) shares soared today on second quarter results and commentary that $112.66, up $16.41 for a 17.05% gain. The stock had a morning high of $113.50.
Micron Technology announced results for its second quarter of fiscal 2024, which ended February 29, 2024.
Fiscal Q2 2024 highlights
Revenue of $5.82 billion versus $4.73 billion for the prior quarter and $3.69 billion for the same period last year
GAAP net income of $793 million, or $0.71 per diluted share
Non-GAAP net income of $476 million, or $0.42 per diluted share
Operating cash flow of $1.22 billion versus $1.40 billion for the prior quarter and $343 million for the same period last year
“Micron delivered fiscal Q2 results with revenue, gross margin and EPS well above the high-end of our guidance range – a testament to our team’s excellent execution on pricing, products and operations,” said Sanjay Mehrotra, President and CEO of Micron Technology. “Our preeminent product portfolio positions us well to deliver a strong fiscal second half of 2024. We believe Micron is one of the biggest beneficiaries in the semiconductor industry of the multi-year opportunity enabled by AI.”
Read the company’s full news and disclaimer here:
https://finance.yahoo.com/news/micron-technology-inc-reports-results-200600425.html
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