BOISE, Idaho (AP) — BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Tuesday reported fiscal fourth-quarter net income of $3.2 billion.
On a per-share basis, the Boise, Idaho-based company said it had profit of $2.83. Earnings, adjusted for one-time gains and costs, were $3.03 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.86 per share.
The chipmaker posted revenue of $11.32 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $11.26 billion.
For the year, the company reported profit of $8.54 billion, or $7.59 per share. Revenue was reported as $37.38 billion.
For the current quarter ending in November, Micron expects its per-share earnings to range from $3.60 to $3.90.
The company said it expects revenue in the range of $12.2 billion to $12.8 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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