technology
Micron Reports $41.45 Billion Revenue and $28.2 Billion Profit in Third Quarter
The Idaho-based chip maker quadrupled revenue year-over-year and posted $28.2 billion in profit. It also forecast fourth-quarter revenue of $49 billion to $51 billion and signed a supply deal with Anthropic.
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Micron reported third-quarter revenue of $41.45 billion after markets closed on June 23, four times the level recorded in the same period a year earlier. Profit reached $28.2 billion, up from $1.88 billion in the year-ago quarter. The company, the largest U.S.
Computer-memory chip maker and headquartered in Idaho, forecast fourth-quarter revenue between $49 billion and $51 billion. Its shares closed at $1,048.51 on June 24, compared with roughly $83 in early 2024 when its market capitalization stood near $91 billion.
Micron also signed an agreement to supply memory and storage chips to AI lab Anthropic and participated in the lab’s Series H funding round, though the size of its investment was not disclosed.
The company’s market capitalization now stands at $1.2 trillion. TechCrunch reported the earnings release and the Anthropic agreement on June 24.
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