BOISE, Idaho (AP) — BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Wednesday reported fiscal second-quarter profit of $13.79 billion.
On a per-share basis, the Boise, Idaho-based company said it had profit of $12.07. Earnings, adjusted for one-time gains and costs, came to $12.20 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $8.80 per share.
The chipmaker posted revenue of $23.86 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $19.61 billion.
For the current quarter ending in May, Micron expects its per-share earnings to range from $18.75 to $19.55.
The company said it expects revenue in the range of $32.75 billion to $34.25 billion for the fiscal third quarter.
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