Micron shares rise after better-than-expected earnings report

Micron (NYSE: MU) reported better-than-expected results in its fourth-quarter earnings report, pushing the company's stock price higher in after-hours trading.

The company reported adjusted earnings of $1.18 per share, higher than the $1.12 expected for the quarter. Micron also reported better-than-expected revenue.

In an earnings report to investors, the Boise, Idaho-based company outlined its ambitions for the 2025 calendar year, forecasting higher demand for computer drivers and artificial intelligence.

How Onondaga Community College is helping build Micron's future workforce

“We enter fiscal 2025 with the best competitive position in Micron’s history,” said Sanjay Mehrotra, CEO of Micron.

The company's earnings report doesn't mention many details about its plans to build a computer chip manufacturing site in Clay, New York. Their presentation states that Micron is “working with state and federal agencies” on permits for the Clay site.

This includes ongoing environmental assessments. The groundbreaking was recently postponed for the second time because the proposed Micron site is home to an endangered species of bat. The new planned start date for construction is November 2025, at which point the bats will not yet have anywhere to roost.

The company also advised investors that this site and expansions in Boise, Idaho, will not contribute to their supply in fiscal years 2025 and 2026.

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Micron has received millions of dollars from the CHIPS and Science Act to build computer chips in Central New York. The company claims that the process will create nine thousand permanent jobs and 45,000 construction jobs.

You can read Micron's fourth-quarter earnings report here.