Earnings

September 28, 2021

You Can’t Win Em’ All

America’s leading producer of memory chips handed investors a small surprise in earnings today. 😀 However, the surprise coincided with a forecast that booming demand wouldn’t continue into the next quarter. 🙃

Micron Technologies reported EPS of $2.42 (analysts expected $2.34). The company also booked revenue of $8.27 billion, a small beat (analysts expected $8.21 billion.)  Revenue was up 36.5% YoY. Those figures should inspire confidence among investors. Unfortunately, there was one big hazard that dampened the otherwise solid quarter. ⚠ī¸

The company’s guidance for the coming quarter suggested that Micron’s best days are behind it (at least, for the next few quarters.) The company expects revenue to be $7.65 billion next quarter, which is a far cry from the $8.49 billion that analysts expected. The company’s EPS guidance was also lower. Micron anticipates non-GAAP EPS of $2.10 next quarter (analysts expected $2.48.)

The company’s Q4 2021 earnings coincided with the release of full-year earnings, which can be read here. All-in-all, Micron’s FY 2021 revenue was $27.71 billion, with this quarter being its best by a sizable margin. 

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