Micron: Fiscal Q3 Earnings Snapshot

BOISE, Idaho (AP) — BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Wednesday reported fiscal third-quarter earnings of $332 million.

On a per-share basis, the Boise, Idaho-based company said it had net income of 30 cents. Earnings, adjusted for stock option expense and pretax expenses, were 62 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The chipmaker posted revenue of $6.81 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $6.7 billion.

For the current quarter ending in August, Micron expects its per-share earnings to range from $1 to $1.16.

The company said it expects revenue in the range of $7.4 billion to $7.8 billion for the fiscal fourth quarter.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MU at https://www.zacks.com/ap/MU

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