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Micron Inventory Surges on This fall Earnings, Income Beat

Micron inventory (NASDAQ:MU) was on the rise late on the day Thursday as the corporate reported its newest quarterly earnings outcomes, unveiling rev...


Micron inventory (NASDAQ:MU) was on the rise late on the day Thursday as the corporate reported its newest quarterly earnings outcomes, unveiling revenue and income figures that have been nicely forward of what Wall Avenue analysts have been calling for.

Micron inventory

The Boise, Idaho-based semiconductor producer stated that for its fourth quarter of fiscal 2018, it posted adjusted earnings of $ three.53 per share. The determine was stronger than the corporate’s adjusted earnings from its fourth quarter of fiscal 2017, when it amassed a revenue of $ 2.02 per share.

Micron added that its adjusted earnings for the interval got here in forward of what the Wall Avenue consensus estimate was calling for at $ three.34 per share. It was additionally a powerful gross sales interval for the semiconductor maker because it introduced in gross sales of $ eight.44 billion within the interval ended Aug. 30.

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Through the firm’s year-ago quarter, its income was greater than $ 2 billion weaker at $ 6.14 billion. Analysts have been calling for Micron to usher in gross sales of $ eight.25 billion for its final quarter of the fiscal yr.

The corporate creates reminiscence chips and information storage techniques for smartphones, computer systems, vehicles and industrial gear.

MU shares gained about four.2% after the bell on Thursday following the corporate’s newest quarterly figures, which beat the Wall Avenue consensus estimate. The inventory had been up about 2.2% throughout common buying and selling hours in anticipation of its outcomes.

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