Advertisement

Micron Technology (MU) Q2 Earnings: What To Expect

MU Cover Image
Micron Technology (MU) Q2 Earnings: What To Expect

Memory chips maker Micron (NYSE:MU) will be reporting earnings tomorrow afternoon. Here's what to expect.

Micron Technology beat analysts' revenue expectations by 8.8% last quarter, reporting revenues of $5.82 billion, up 57.7% year on year. It was a stunning quarter for the company, with a significant improvement in its gross margin and an impressive beat of analysts' EPS estimates.

Is Micron Technology a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Micron Technology's revenue to grow 77.9% year on year to $6.67 billion, a reversal from the 56.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.53 per share.

Micron Technology Total Revenue
Micron Technology Total Revenue

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 Technology has missed Wall Street's revenue estimates four times over the last two years.

ADVERTISEMENT

With Micron Technology 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.

When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.