Micron Technology Inc (NASDAQ:MU) shares moved higher after Thursday’s closing bell as the company’s fiscal second quarter earnings came in ahead of expectations.
Revenue for the period was $8.05 billion, up from $5.82 billion in the year-ago quarter and beating the Wall Street consensus of $7.9 billion.
This included record data center DRAM revenue attributed to strong AI demand.
Earnings per share of $1.56 beat estimates of $1.42.
For the third quarter, Micron guided revenue at the midpoint of $8.9 billion and earnings per share in the range of $1.47 to $1.67, or $1.57 at the midpoint.
Both figures exceed Street forecasts of $8.47 billion and $1.48, respectively.
“We are extending our technology leadership with the launch of our 1-gamma DRAM node,” Micron CEO Sanjay Mehrotra said in a statement.
“We expect record quarterly revenue in fiscal Q3, with DRAM and NAND demand growth in both data center and consumer-oriented markets, and we are on track for record revenue and significantly improved profitability in fiscal 2025.”
Shares of Micron gained 5.6% at $109 afterhours.