Micron Technology (MU) Q2 Guidance Tops Consensus

Micron Technology, Inc. (Nasdaq: MU) today announced updated guidance for its second quarter of fiscal 2018, ending March 1, 2018.

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

• Revenue in the range of $7.20 billion to $7.35 billion compared to prior guidance of $6.80 billion to $7.20 billion.
• Earnings per share ranging between $2.70 and $2.75 per share compared to prior guidance of $2.51 to $2.65 per share, based on 1,241 million diluted shares.

(Street sees Q2 EPS of $2.57 on revenue of $7.02 billion)

“We continue to execute well against our strategic priorities as we undergo our chief financial officer transition,” said Sanjay Mehrotra, president and CEO of Micron. “We look forward to sharing more details in our fiscal second quarter earnings conference call.”

Micron will hold its fiscal second quarter earnings conference call at 2:30 p.m. MDT Thursday, March 22, 2018. A live webcast of the call will be available via the Investor Relations website at investors.micron.com. A webcast replay will be available for approximately one year after the call.

In a separate press release, Micron today announced a chief financial officer transition: investors.micron.com

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