Chipmaker Micron Technology reported revenue of $7.79 billion for its second quarter of fiscal 2022, which ended March 3, 2022 versus $7.69 billion for the prior quarter and $6.24 billion for the same period last year.
Micron Technology posted net income of $2.26 billion, or $2.00 per diluted share.
Micron forecast current-quarter revenue of $8.7 billion, plus or minus $200 million. Micron also charged more for its NAND and DRAM memory chips, helping gross margins as a percentage of revenue rise to 47.2 percent from 26.4 percent last year.
“We’re leading the industry in technology across DRAM and NAND, and our product momentum is accelerating. With outstanding first half results, Micron is on track to deliver record revenue and robust profitability in fiscal 2022,” said Micron Technology President and CEO Sanjay Mehrotra.
Investments in capital expenditures were $2.60 billion for the second quarter of 2022.