Micron Rolls Out Soft Guidance, But Earnings Beat in Q4 on Strong Memory Sales

micron-rolls-out-soft-guidance,-but-earnings-beat-in-q4-on-strong-memory-sales

Investing.com – Micron (NASDAQ:MU) reported on Tuesday fourth quarter earnings that beat analysts’ forecasts and revenue that topped expectations.

Micron announced earnings per share of $1.08 on revenue of $6.06B. Analysts polled by Investing.com anticipated EPS of $0.99 on revenue of $5.9B.

Micron shares are down 5% from the beginning of the year, still down 17.13% from its 52 week high of $61.19 set on February 12. They are under-performing the S&P 500 which is up 3.24% from the start of the year.

Micron shares gained 0.57% in after-hours trade following the report.

Micron follows other major Technology sector earnings this month

Micron’s report follows an earnings beat by Adobe on September 15, who reported EPS of $2.57 on revenue of $3.23B, compared to forecasts EPS of $2.41 on revenue of $3.16B.

Oracle had beat expectations on September 10 with first quarter EPS of $0.93 on revenue of $9.37B, compared to forecast for EPS of $0.86 on revenue of $9.17B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

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