Micron Technology (MU) Tops Q3 EPS by 15c, Guidance Misses Badly
- Wall Street ends mixed after job openings hint at cooling economy
- MongoDB delivers upbeat guidance after Q3 results beat
- U.S. job openings fall to 8.733 million in October - JOLTS report
- Hedge Funds were big sellers of Big Tech stocks last week - Morgan Stanley
- CVS Health adds 2% as 2024 revenue outlook tops estimates
(Updated - June 30, 2022 4:05 PM EDT)
Micron Technology (NASDAQ: MU) reported Q3 EPS of $2.59, $0.15 better than the analyst estimate of $2.44. Revenue for the quarter came in at $8.64 billion versus the consensus estimate of $8.63 billion.
“Micron delivered record revenue in the fiscal third quarter driven by our team’s excellent execution across technology, products and manufacturing,” said Micron Technology President and CEO Sanjay Mehrotra. “Recently, the industry demand environment has weakened, and we are taking action to moderate our supply growth in fiscal 2023. We are confident about the long-term secular demand for memory and storage and are well positioned to deliver strong cross-cycle financial performance.”
Micron Technology sees Q4 2022 EPS of $1.43 to 1.83, versus the consensus of $2.62. Micron Technology sees Q4 2022 revenue of $6.8 to 7.6 billion, versus the consensus of $9.05 billion.
|$7.2 billion ± $400 million||$7.2 billion ± $400 million|
|41.5% ± 1.5%||42.5% ± 1.5%|
|$1.13 billion ± $25 million||$1.05 billion ± $25 million|
Diluted earnings per share
|$1.52 ± $0.20||$1.63 ± $0.20|
For earnings history and earnings-related data on Micron Technology (MU) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Box (BOX) Misses Q3 EPS by 2c; offers outlook
- Asana stock plunges 7% despite better than expected Q3 earnings & guidance
- HealthEquity (HQY) Tops Q3 EPS by 10c, provides guidance
Create E-mail Alert Related CategoriesEarnings, Guidance, Hot Earnings, Hot Guidance, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!