Micron Reports Record-Breaking Earnings with 4x Revenue Jump; Semiconductor Stocks Surge

[Anchor]

Micron, one of the world's top three memory semiconductor companies, has announced a surprise earnings report. Its revenue for the last quarter has quadrupled compared to a year ago. This is expected to have an impact on the Korean stock market today, June 25.

Here is New York correspondent Kim Beom-joo.

[Reporter]

Micron, one of the world's top three memory semiconductor companies, announced that it achieved record-high performance in the last quarter.

Micron reported that it generated $41.46 billion in revenue from March to May.

This figure is four times the $9.3 billion recorded a year ago and exceeds the market expectation of $35.8 billion by more than $5 billion.

In addition, earnings per share (EPS) significantly surpassed the market expectation of around $21, reaching $25.

Micron further forecasted that its performance would improve even more in the current quarter, which runs from June to August.

While the market had projected revenue of $43.5 billion, Micron forecasted that it would reach between $49 billion and $51 billion, which is more than 15% higher than expectations.

This effectively proves that demand for both AI-specific HBM (High Bandwidth Memory) and existing DRAM has been greater than expected amidst the artificial intelligence investment boom.

It is also interpreted as confirmation that the company can generate stable profits by entering into long-term supply contracts with technology companies that are seeking to secure more memory.

[Michael Landsberg/Wealth Management Firm: To make artificial intelligence better and faster, you need more semiconductors. Demand will increase in all areas. We believe this situation will continue.]

Micron's earnings were released after the market closed, and in after-hours trading, Micron's stock price rose by 9%, while shares of another major semiconductor company, SanDisk, also climbed by 7%.

This trend is expected to have a significant impact on the Korean stock market today.

(Reported by Lee Hee-hoon | Video edited by Kim Yoon-sung)
※ Please note: This article was translated by AI and may contain errors.