Micron Technology announced its financial report for the third quarter of fiscal year 2018 up to May 31, 2018. According to the financial report, Micron’s revenue in the third quarter reached US$7.797 billion, up 40% from the US$5.566 billion in the same period of FY2017; the gross profit rate in the quarter reached 60.6%, which was 46.9% compared to the same period in FY2017; about net profit, it reached US$3.823 billion, which was a significant increase of 131% compared with US$1.647 billion in the same period of FY2017.
Benefits from its strong execution capability and continuously growing market demand, Micron achieved a new record in its third-quarter financial results. Sanjay Mehrotra, president and chief executive officer of Micron, stated: “We have strengthened our competitive position. And we have increased revenue in almost all high-value product areas. We have created new revenue records in product lines such as SDD, NAND, automotive solutions, and cloud/enterprise and DRAM memory.”
Micron Chief Financial Officer David Zinsner pointed out at the legal briefing after the publication of the financial report that the revenue for the next quarter will be between US$8 billion and US$8.4 billion, which is in line with the market analyst’s general estimate of US$8 billion. Based on U.S. GAAP calculations, Micron’s EPS for the fourth quarter of fiscal year 2018 will reach US$ 3.30 and gross profit margin will be 59% to 62%. As the outlook for the next quarter was in line with market expectations, Micron Technology's share price rose by 3% in US intraday trading on the 20th.
