Micron Know-how Inc. (NASDAQ: MU) reported a pointy enhance in revenues for the third quarter of 2024, and the chipmaker turned to a revenue from a loss final yr. The outcomes additionally surpassed Wall Avenue’s projections.
Micron reported an adjusted revenue of $0.62 per share for the Might quarter, in comparison with a lack of $1.43 per share within the year-ago quarter. Earnings additionally topped expectations. On an unadjusted foundation, internet earnings was $332 million or $0.30 per share in Q3, in comparison with a lack of $1.90 billion or $1.73 per share within the corresponding interval of 2023.
Third-quarter revenues elevated sharply to $6.81 billion from $3.75 billion within the prior yr quarter and got here in above analysts’ consensus estimates.