Micron Technology Swings to Fiscal Q1 Earnings, Revenue Rises; Shares Fall After Hours
MT Newswires Live12-19
Micron Technology (MU) reported fiscal Q1 non-GAAP earnings late Wednesday of $1.79 per diluted share, swinging from a loss of $0.95 a year earlier.
Analysts polled by FactSet expected earnings of $1.76.
Revenue for the quarter ended Nov. 28 rose to $8.71 billion from $4.73 billion a year earlier.
Analysts surveyed by FactSet expected $8.71 billion.
The chipmaker expects fiscal Q2 non-GAAP earnings per share of $1.43, plus or minus $0.10, and revenue of $7.9 billion, plus or minus $200 million. Analysts surveyed by FactSet project EPS of $1.91 on revenue of $8.94 billion.
Shares of Micron Technology fell 10% in after-hours activity.
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