Micron forecasts quarterly revenue, profit above estimates on AI memory demand
MU•Micron forecast first-quarter revenue of $61.5 billion, plus or minus $1.5 billion, and adjusted profit of $38.15 per share, both above analyst estimates. Fourth-quarter revenue reached $54.23 billion and adjusted profit was $33.42 per share, also beating estimates.
1. Quarterly outlook
Micron forecast first-quarter revenue of $61.5 billion, plus or minus $1.5 billion, compared with analysts’ average estimate of $57.02 billion. It expects adjusted profit of $38.15 per share, plus or minus $1, above the $35.40 estimate.
2. Results and demand
Fourth-quarter revenue more than quadrupled to $54.23 billion, beating estimates of $51.07 billion, while adjusted profit of $33.42 per share exceeded estimates of $31.61. Micron said orders for high-bandwidth memory exceed capacity as AI demand boosts memory-chip needs.
3. Investment plans
Micron has lifted planned U.S. investments to more than $250 billion through 2035. Its shares rose over 1% in extended trading.
