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

Market news

1 July 2021

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

Micron Technology (MU) reported Q3 FY 2021 earnings of $1.88 per share (versus $0.82 per share in Q3 FY 2020), beating analysts’ consensus estimate of $1.71 per share.

The company’s quarterly revenues amounted to $7.422 bln (+36.5% y/y), beating analysts’ consensus estimate of $7.258 bln.

The company also issued upside guidance for Q4 FY 2021, projecting EPS of $2.20-$2.40 versus analysts’ consensus estimate of $2.15 and revenues of $8.0-$8.4 bln versus analysts’ consensus estimate of $7.89 bln.

MU fell to $82.75 (-2.62%) in pre-market trading.

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