Company News: Micron Technology (MU) quarterly results beat analysts’ expectations

Market news

30 June 2020

Company News: Micron Technology (MU) quarterly results beat analysts’ expectations

Micron Technology (MU) reported Q3 FY 2020 earnings of $0.82 per share (versus $1.05 per share in Q3 FY 2019), beating analysts’ consensus estimate of $0.68 per share.

The company’s quarterly revenues amounted to $5.438 bln (+13.6% y/y), beating analysts’ consensus estimate of $5.052 bln.

The company also issued upside guidance for Q4 FY 2020, projecting EPS of $0.95-1.15 versus analysts’ consensus estimate of $0.80 and revenues of $5.75-6.25 bln versus analysts’ consensus estimate of $5.51 bln.

MU rose to $51.75 (+5.30%) in pre-market trading.

S&P 500: 3086 caps to maintain an immediate downside bias - Credit Suisse

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