Micron Technology, a supplier of memory chips and storage solutions, released its financial report for the first fiscal quarter of the year 2022 on Monday. Revenue increased significantly year-on-year but declined significantly from the previous quarter.

From the perspective of the financial report, in the first fiscal quarter of the fiscal year 2022 ending on December 2, Micron Technology’s revenue was 7.687 billion U.S. dollars, an increase of 1.914 billion U.S. dollars from the 5.773 billion U.S. dollars in the same period of the previous fiscal year, an increase of 33% year-on-year; The US$8.274 billion in the first fiscal quarter decreased by US$587 million, a decrease of 7.1% from the previous quarter.

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In terms of net profit, it was US$2.306 billion under the US GAAP, an increase of US$1.503 million from US$803 million in the same period of the previous fiscal year, a year-on-year increase of 187%, but it was less than the US$2.72 billion in the previous fiscal quarter, a decrease of 15.2 month-on-month%; It was US$2.471 billion under non-US GAAP, which was also a significant year-on-year increase and a significant decline from the previous month.

Due to the surge in market demand for its memory chips, Micron predicts that its revenue and profit in the second quarter will be higher than Wall Street expectations. Micron expects revenue for the current second fiscal quarter to be US$7.5 billion, a fluctuation of US$200 million. The average expectation is 7.27 billion U.S. dollars; adjusted earnings per share are 1.95 U.S. dollars, fluctuating by 0.1 U.S. dollars, also exceeding analysts’ expectations of 1.86 U.S. dollars.

Moreover, Micron is one of the world’s three largest storage giants, behind Samsung and SK Hynix. The company produces both NAND chips that serve the data storage market, as well as DRAM memory chips for data centers, computers, and mobile phones.

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