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Micron Technology Inc. (NASDAQ:MU) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.86%.
Micron Technology Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.28 in the quarter versus EPS of $-0.29 in the year-earlier quarter.
Revenue: Rose 3.43% to $2.08 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Micron Technology Inc. reported adjusted EPS loss of $0.28 per share. By that measure, the company missed the mean analyst estimate of $-0.19. It beat the average revenue estimate of $1.92 billion.
Quoting Management: “We were pleased with the overall improvement in our operational performance and excited to see the effects of our restructured partnership with Inotera drive bit shipment growth during the quarter. We believe the resultant increase in capacity from existing industry production will provide us the scale we need to reinforce our leadership position,” said Micron CEO Mark Durcan.
Key Stats (on next page)…
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