Micron dips despite Q3 beats; NAND and DRAM shipments flat Q/Q

|By:, SA News Editor

Micron (NASDAQ:MU) shares drop 0.8% aftermarket on Q3 results that beat EPS and revenue estimates with a 40% Y/Y revenue growth.

DRAM performance: Accounted for 71% of total revenue with its revenue up 6% Q/Q and 56% Y/Y. Shipment quantities were relatively flat on the quarter and ASPs were up mid-to-upper single-digit percent range.

Trade NAND performance: Accounted for 25% of overall revenue with revenue up 8% Q/Q and 14% Y/Y. Shipments were relatively flat on the quarter and ASPs were up mid-to-upper single-digit percentage range.

Key metrics: Operating cash flow, $4.3B; FCF, $2.2B; operating expenses; cash and equivalents, $7.7B; total debt balance, $7.3B.

Earnings call is scheduled for 4:30 PM ET with a webcast available here.

Press release / Presentation slides

Previously: Micron Technology beats by $0.03, beats on revenue (June 20)

Update: DRAM/NAND companies that might move on Micron's earnings include Intel (NASDAQ:INTC) and Western Digital (NYSE:WDC).

Subscribe for full text news in your inbox