Micron Technology (MU) Tops Q1 EPS by 4c, Q2 Guidance Tops Views

(Updated - December 21, 2016 4:14 PM EST)

Micron Technology (NASDAQ: MU) reported Q1 EPS of $0.32, $0.04 better than the analyst estimate of $0.28. Revenue for the quarter came in at $3.97 billion versus the consensus estimate of $3.96 billion.

"Positive market momentum, driven by favorable demand trends and limited industry supply, produced solid results for our first quarter," said Micron CEO Mark Durcan. "We continue to make significant progress on our key technology and product initiatives, and we are pleased to have closed the Inotera acquisition on December 6, 2016, which we expect to further improve Micron’s strategic position and financial results."

Micron Technology (NASDAQ: MU) sees Q2 EPS of $0.58-$0.68 vs consensus of $0.46. Revenue is seen at $4.35B-$4.70B vs consensus of $4.13B.

FQ2 2017 Guidance NON-GAAP

• Revenue $4.35 – $4.70 billion
• Gross margin 31% – 34%
• Operating expenses $590 – $640 million
• Operating income $800 – $900 million
• Diluted EPS* $0.58 – $0.68

For earnings history and earnings-related data on Micron Technology (MU) click here.

You May Also Be Interested In

• Midday movers: Tesla, Blackstone, Las Vegas Sands fall; DR Horton rises
• Ally Financial (ALLY) Tops Q1 EPS by 11c, Beats on Revenue
• OFG Bancorp (OFG) Tops Q1 EPS by 8c