BOISE, Idaho (AP) — BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Wednesday reported fiscal first-quarter profit of $1.87 billion.
On a per-share basis, the Boise, Idaho-based company said it had profit of $1.67. Earnings, adjusted for one-time gains and costs, were $1.79 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.
The chipmaker posted revenue of $8.71 billion in the period, matching Street forecasts.
For the current quarter ending in February, Micron expects its per-share earnings to range from $1.16 to $1.36.
The company said it expects revenue in the range of $7.7 billion to $8.1 billion for the fiscal second quarter.
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