BOISE, Idaho (AP) — BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Wednesday reported fiscal third-quarter net income of $28.24 billion.
The Boise, Idaho-based company said it had profit of $24.67 per share. Earnings, adjusted for one-time gains and costs, were $25.11 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $21.39 per share.
The chipmaker posted revenue of $41.46 billion in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $36.72 billion.
For the current quarter ending in August, Micron expects its per-share earnings to range from $30 to $32.
The company said it expects revenue in the range of $49 billion to $51 billion for the fiscal fourth 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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