Micron Technology (MU) Tops Q2 EPS by 8c, Offers Q3 Guidance

March 22, 2018 4:00 PM EDT

(Updated - March 22, 2018 4:06 PM EDT)

Micron Technology (NASDAQ: MU) reported Q2 EPS of $2.82, $0.08 better than the analyst estimate of $2.74. Revenue for the quarter came in at $7.35 billion versus the consensus estimate of $7.28 billion.

"Micron executed exceptionally well in the second quarter, delivering record results and strong free cash flow driven by broad-based demand for our memory and storage solutions. Our performance was accentuated by an ongoing shift to high-value solutions as we grew sales to our cloud, mobile and automotive customers and set new records for SSDs and graphics memory," said Micron President and CEO Sanjay Mehrotra. "Secular technology trends are driving robust demand for memory and storage, and Micron is well-positioned to address these growing opportunities."

Company sees Q3 EPS of $2.83 at midpoint and revenue of $7.2-$7.6 billion vs the consensus of $2.63 on revenue of $7.27 billion.

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

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