Earnings Updates | Q3 2024

October 10, 2024by toleg.work
earnings1_04_oct_24
earnings2_04_oct_24
earnings3_04_oct_24
earnings4_04_oct_24

The corporate reporting period has is going.

Last week, 7 companies from the S&P 500 index reported.

Today, we are going to analyze the results of Micron Technology. Its revenue amounted to $7.7B. It grew by +17.5% compared to the corresponding value for the previous quarter and exceeded analysts’ expectations by +1.3%. Let’s analyze the company’s business in more detail.

Micron Technology is one of the largest chip manufacturers in the world. The company ranks 3rd in the DRAM chip market and 5th in the NAND chip market. The company has offices in 17 countries, as well as 12 laboratories and 11 production sites.

During the reporting period, the company’s revenue grew by 92% compared to the corresponding quarter of the previous year, and for the 3rd quarter in a row it generated net profit after a difficult 2023. The revenue growth was driven by an increase in the position of high-margin products, such as high-speed memory (HBM), as well as DRAM and NAND products for storage and data centers.

64% of the revenue structure is accounted for by manufacturing costs and 36% by gross profit. Over the past quarter, the company earned a profit of $887M and its market capitalization is $119B.

After the publication of the report, Micron Technology shares rose by +15.7% to $107 per share. Market participants are satisfied with the financial results and reacted positively to the company’s development prospects.

*surprise – % ratio between actual and expected revenue
**growth – % ratio of the amount of revenue for the last 4 quarters compared to this value calculated for the previous quarter

https://investud.io/wp-content/uploads/2023/10/Logo2-1.png
We offer personalized investment solutions that empower businesse owners and individuals to achieve their financial goals with confidence and control.