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Micron Technology, Inc. (NASDAQ:MU) released second-quarter earnings results Wednesday afternoon.
Adjusted earnings came in at $1.71, beating the consensus estimates by 4 cents. Sales came in at $5.84 billion, beating estimates by $20 million.
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"Micron continues to execute well across a range of product, operational and financial initiatives against the backdrop of a challenging market environment," said President and CEO Sanjay Mehrotra. "These initiatives and our focus on high-value solutions, cost competitiveness and innovation will enable us to emerge even stronger as the market environment improves."
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Highlights
- Share repurchases of $702 million
- Ended quarter with net cash position of $2.99 billion
- GAAP net income of $1.62 billion
Micron shares were little changed in after-hours trading. The stock closed at $40.13 per share.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.