Micron Trades Higher On Q3 Beat

Micron Trades Higher On Q3 Beat

Micron Technology MU reported third-quarter earnings of 82 cents per share Monday, beating the analyst consensus estimate of 77 cents by 6.49%. This is a 21.9% decrease over earnings of $1.05 per share from the same period last year.

The company reported quarterly sales of $5.44 billion, which beat the analyst consensus estimate of $5.31 billion by 2.45%. This is a 13.62% increase over sales of $4.79 billion the same period last year.

"Micron's exceptional execution in the fiscal third-quarter drove strong sequential revenue and EPS growth, despite challenges in the macro environment," CEO Micron Technology CEO Sanjay Mehrotra said in a statement. 

"We are ramping the industry's most advanced DRAM technology into production and have delivered more than 75% of our NAND volume as high-value solutions, supported by record SSD revenue in the quarter. Our portfolio momentum positions us exceedingly well to leverage the long-term growth across our end markets." 


© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.