are trading higher on Thursday after the company reported better-than-expected second quarter earnings. Revenue for the quarter came in at $5.82 billion, beating analyst estimates of $5.35 billion. Adjusted earnings per share also stood at $0.42, beating the expected $0.24 per share. To offer his perspective on this impressive performance, TD Cowen Managing Director Krish Sankar joins Yahoo Finance Live.
Sankar highlights the company"blasted past" all analyst expectations. He highlights that the surging demand for high bandwidth memory, an area where Micron is beginning to gain traction, positively impacted the company's overall outlook for the next few years. Following a downturn in the memory market, Sankar says Micron's products and facilities have become increasingly utilized, creating"a margin expansion story.
Sankar remains optimistic about pricing at Micron in the coming years, as the company's products are being utilized in applications such as iPhones and PCs, sustaining demand and driving growth.Japan’s space agency says it hopes to forge a profitable launch business with its new H3 rocket TOBISHIMA, Japan — Japan’s space agency and its prime contractor said Thursday they hope to be able to forge a profitable launch business with their new H3 rocket after its first successful flight last month in an increasingly competitive market dominated by Space X.
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