Micron&#x27;s (MU) posted a significant beat on EPS, revenue, margins, and guidance — all showing signs that AI memory demand isn&#x27;t slowing down. Marley Kayden, Sam Vadas, and Alex Coffey offer more insight into all of the key metrics surrounding Micron&#x27;s report immediately following its release as shares rally after hours. ======== Schwab Network ======== Empowering every investor and trader, every market day. Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6D Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

EARNINGS ALERT: MU

Schwab Network

# Full Transcript

**Podcast:** Schwab Network

## Participants

- **Sam Vadas** (None)
- **Molly** (None)
- **Alex Coffey** (None)

## Transcript

Here's your bow. We are not far away from Micron's moment of truth. We will break those numbers as and when we get it. But this was the finish here. We did hold above the 7350 mark here on the S&P 500.

Just a decline there, a marginal one on the line to the downside. The Nasdaq 100 down four tenths of 1%. So we came off the highs, we came off the lows as well. That's how we finished for the tech trade, which of course continued to be under somewhat some pressure today, particularly in the chip names. But as I said, we did have some names turning positive in those final few minutes. Broadcom, TSM, some of the equipment makers as well. All of our Mag7, but Amazon finished in the red today as well.

Softwares which actually had held up earlier in the session, rolled over throughout the course of the day and mostly ended the red. The IGV down 1.2. The Dow Jones held its head above water though, putting on almost 200 points there as we continue to see that rotation out of technology into other parts of the market. We also saw the Russell 2000 getting some relief from those oil and yields coming off as well. But I believe we have Micron hitting the tape right now. Molly, I'll get it over to you with the numbers.

We're just starting to get these numbers coming across here, Sam. As we are looking here, they are coming out right now. Margin was a big concern as we come in. I don't usually start with margins, but they had forecast this 81% margin versus about 75% last quarter. It was a real question whether that could hold. Margins coming in for the quarter at 84.9% here. So better than expected. Now, as we are looking here, their guidance, everything's coming in out of order.

So let me just dive right into the report myself and I will read you the numbers. Revenue coming in at $41.46 billion versus $23.86 in the prior quarter and $9.3 for the same period last year. That is significantly beating the expectation, looking for $36.52 billion. They are looking at their GAAP net income at $28.24 billion or $24.67 per diluted share.

Certainly better than the $20.98 that the street was looking for on a non-GAAP basis. It's a little higher, $28.86 billion or $25.11 per share. They're operating cash flow at $25.39 billion versus $11.9 for that prior quarter. $4.61 billion for the same period last year. And some comment from management here from the CEO. Micron's record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era.

So let's go take a look at what those guidance numbers are as well before we start to digest some of this. They're looking at their gross margins for this upcoming quarter to be about 86%. That's also better than the 83% that was estimated here. And as we are looking at revenue expectations for this current quarter, $49 to $51 billion. Th...

EARNINGS ALERT: MU

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

EARNINGS ALERT: MU

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.