Micron Technology (MU) Raises Q3 Guidance

Micron Technology, Inc. (NASDAQ: MU) will host an Analyst and Investor Event today from 1:30 p.m. to 5:00 p.m. EDT in New York, NY. The company is also raising its revenue and earnings per share guidance for its fiscal third quarter, which ends May 31, 2018. The revised guidance is driven by strong execution and healthy industry conditions.

For the fiscal third quarter, on a non-GAAP basis, the company now expects:

• Revenue in the range of $7.70 billion to $7.80 billion compared to prior guidance of $7.20 billion to $7.60 billion.
• Earnings in the range of $3.12 to $3.16 per share compared to prior guidance of $2.76 to $2.90 per share, based on 1,238 million diluted shares.

(Street sees Q3 EPS of $2.84 on revenue of $7.46 billion)

"Our third quarter results are driven by focused execution of our strategy against a backdrop of healthy industry fundamentals," said Sanjay Mehrotra, president and CEO of Micron. "We look forward to discussing the significant opportunities ahead for Micron during our analyst and investor event later today."

A live video webcast of Micron’s 2018 Analyst and Investor Event events will be available via the Investor Relations website at investors.micron.com. Webcast replays will be available for approximately one year after the event.

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