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(Reuters) -Micron Technology Inc forecast second-quarter revenue on Monday over market estimates as a shift to pandemic-driven remote work increases demand for its memory chips.
The company makes NAND memory cards for the data storage market and DRAM memory cards that are widely used in data centers, personal computers, and other devices.
Due to strong demand and a shortage of chips throughout the industry, Micron (NASDAQ :), one of the world’s largest suppliers of memory chips, has charged higher prices for its products.
The company expects revenue for the current quarter to be $ 7.5 billion, plus or minus $ 200 million, compared to an average analyst estimate of $ 7.25 billion, according to Refinitiv data.
In the first quarter, Micron earned $ 2.16 on an adjusted basis per share, exceeding expectations of $ 2.11 per share.
Its shares rose 5.7% to $ 87.7.
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