Micron shares rose by 4% after quarterly report
29 March developer of memory chips Micron reported for the second quarter of 2022 fiscal year. Revenue, profit and forecast were better than expected, and the company's shares in the post-market grew on 4%, to 85,2 $. Quarterly results Here's how Micron's performance has changed year-on-year, and here's what analysts expected: revenue — $7.8 billion (+25%), expectations — $7.5 billion; adjusted earnings per share — 2,1 $ (+118%), expectations - 2 $. Revenue by memory type: DRAM — RAM — $5.7 billion (+29%); NAND – Flash Memory – $2 billion (+19%); other — 0.1 billion (−23%). Revenue by segment: Compute and Networking — DRAM for PCs, video cards and data centers — 3.5 billion (+31%); Mobile – DRAM and NAND for mobile devices – 1.9 billion (+4%); Storage — NAND for data centers, corporations and retail consumers – 1.2 billion (+38%); Embedded – DRAM and NAND for automotive and industry – $1.3 billion (+37%). "Last year, data centers bypassed mobile devices and became the largest market for memory chips.. Looking ahead, we expect, that growth in demand for data centers will outpace the broader memory market over the next decade.", the company said.. According to Micron, sales of memory chips for data centers increased compared to last year at 60%. The company does not publish more accurate data on sales in this market.. Micron also noted good demand in the corporate PC markets., gaming graphics cards, 5G-smartphones and electric vehicles. The latter she calls data centers on wheels. Micron counts, that the transition to electric vehicles "will be a powerful tailwind for many years"?. Micron's forecast and analysts' expectations for the current, third quarter: revenue - 8.7 billion dollars, expectations — $8.1 billion; adjusted earnings per share — 2,5 $, expectations - 2,2 $. Since the beginning of the year, Micron shares have fallen by 14%, …
