Micron Technology Inc. (MU) closed out its fiscal year with impressive fourth-quarter financial results, exceeding both revenue and earnings expectations. The semiconductor giant reported revenue of $7.75 billion, surpassing the consensus estimate of $7.635 billion. Adjusted earnings per share came in at $1.18, outperforming analyst forecasts of $1.13 per share.
This strong performance was largely attributed to a surge in demand for data center DRAM products, driven by the rapid development and adoption of artificial intelligence (AI) technologies. Micron’s industry-leading high bandwidth memory played a key role in this growth, with data center SSD sales exceeding $1 billion in revenue for the first time.
“Micron delivered 93% year-over-year revenue growth in fiscal Q4, as robust AI demand drove a strong ramp of our data center DRAM products and our industry-leading high bandwidth memory. Our NAND revenue record was led by data center SSD sales, which exceeded $1 billion in quarterly revenue for the first time,” said Sanjay Mehrotra, president and CEO of Micron.
The company’s financial outlook for fiscal 2025 remains positive, with Micron expecting record revenue in the first quarter and significantly improved profitability throughout the year. This optimistic forecast reflects Micron’s strong competitive position, driven by its focus on high-growth markets like AI and data centers.
In addition to its financial results, Micron also declared a quarterly cash dividend of $0.115 per share, payable on October 23 to shareholders of record as of October 7.
Micron shares surged over 11% in after-hours trading following the release of these positive results, signaling investor confidence in the company’s future prospects.
The company’s management will host a conference call on Wednesday at 4:30 p.m. ET to further discuss the fourth-quarter results and provide additional insights into the company’s future plans and strategies.
