Micron Beats Estimates as AI Data Center Revenue Surges | Closing Bell
Bloomberg reports that Micron exceeded quarterly revenue and earnings expectations, helped by strong demand tied to artificial intelligence and data centers. The company also issued guidance above analyst forecasts, although its shares were little changed after the results.
Micron reported quarterly adjusted revenue of $54.23 billion, above the roughly $52 billion analyst estimate, while adjusted earnings per share also exceeded expectations. The Boise-based semiconductor company issued current-quarter revenue guidance of $60 billion to $63 billion and adjusted earnings guidance above the analyst consensus.
Bloomberg anchors and reporters said Micron’s core data center revenue reached $18 billion, well ahead of the $11.3 billion estimate, underscoring the impact of AI infrastructure spending. The discussion also highlighted broader investor concern about the sustainability of AI-related capital spending and the performance of data center companies, while noting that Micron shares were largely unchanged after having gained sharply earlier in the year.