Micron Shares Drop 13% After Weak Q2 Guidance Despite Earnings Beat

Benzinga

Micron shares fell 13% in after-hours trading on Wednesday after the company issued weak second-quarter guidance, despite beating earnings expectations for the latest period. The company projected lower revenue and earnings per share for the second quarter than analysts had expected. Micron's shares have risen over 20% year-to-date, trailing the Nasdaq's gain. CEO Sanjay Mehrotra highlighted data centers and AI ventures with Nvidia’s processors as growth areas while noting weaker consumer markets in the near term.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Micron shares fell 13% in after-hours trading on Wednesday after the company issued weak

00:07second quarter guidance, despite beating earnings expectations for the latest period.

00:11The company projected lower revenue and earnings per share for the second quarter than analysts

00:15had expected.

00:16Micron shares have risen over 20% year-to-date, trailing the Nasdaq's gain.

00:21CEO Sanjay Malhotra highlighted data centers and AI ventures with NVIDIA processors as

00:27growth areas while noting weaker consumer markets in the near term.

00:30For all things money, visit Benzinga.com slash GSTV.

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