Company News: Micron Technology (MU) quarterly earnings beat analysts’ forecast

Market news

1 April 2021

Company News: Micron Technology (MU) quarterly earnings beat analysts’ forecast

Micron Technology (MU) reported Q2 FY 2021 earnings of $0.98 per share (versus $0.45 per share in Q2 FY 2020), beating analysts’ consensus estimate of $0.95 per share.

The company’s quarterly revenues amounted to $6.2 bln (+30.0% y/y), in line with analysts’ consensus estimate of $6.2 bln.

The company also issued upside guidance for Q3 FY 2021, projecting EPS of $1.55-$1.69 versus analysts’ consensus estimate of $1.33 and revenues of $6.9-$7.3 bln versus analysts’ consensus estimate of $6.86 bln.

MU rose to $92.75 (+5.15%) in pre-market trading.

Downgrades before the market open

U.S. weekly jobless claims total 719,000

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