Micron Technology (MU) Tops Q1 EPS by 26c, Q2 Guidance Tops Views

December 19, 2017 4:01 PM EST

(Updated - December 19, 2017 4:08 PM EST)

Micron Technology (NASDAQ: MU) reported Q1 EPS of $2.45, $0.26 better than the analyst estimate of $2.19. Revenue for the quarter came in at $6.8 billion versus the consensus estimate of $6.41 billion.

"Micron's strong results were driven by double-digit sequential revenue growth in mobile, server and SSD applications, with expanded gross margins and improved profitability," said Micron President and CEO Sanjay Mehrotra.

"We are making solid progress on our strategic priorities to drive cost competitiveness, deploy high value solutions and strengthen our balance sheet. We believe these actions will position Micron to benefit from the broad demand trends ahead of us."

Micron sees Q18 EPS of $2.51 to $2.65 vs consensus of $2.04 on revenue of $6.8-$7.20 billion vs consensus of $6.18 billion.

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

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