BOISE, Idaho (AP) — BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Wednesday reported fiscal fourth-quarter profit of $887 million.
The Boise, Idaho-based company said it had profit of 79 cents per share. Earnings, adjusted for pretax expenses and stock option expense, were $1.18 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The chipmaker posted revenue of $7.75 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $7.64 billion.
For the year, the company reported profit of $778 million, or 70 cents per share. Revenue was reported as $25.11 billion.
For the current quarter ending in November, Micron expects its per-share earnings to range from $1.66 to $1.82.
The company said it expects revenue in the range of $8.5 billion to $8.9 billion for the fiscal first quarter.
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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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