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

Market news

8 January 2021

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

Micron Technology (MU) reported Q1 FY 2021 earnings of $0.78 per share (versus $0.48 per share in Q1 FY 2020), beating analysts’ consensus estimate of $0.69 per share.

The company’s quarterly revenues amounted to $5.773 bln (+12.2% y/y), beating analysts’ consensus estimate of $5.662 bln.

The company also issued upside guidance for Q2 FY 2021, projecting EPS of $0.68-$0.82 versus analysts’ consensus estimate of $0.64 and revenues of $5.6-$6.0 bln versus analysts’ consensus estimate of $5.52 bln.

MU rose to $82.81 (+4.68%) in pre-market trading.

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