Micron Technology (MU) reported earnings on Thur 23 March 2017 (a/h)

** charts before earnings **

 

** charts after earnings **

 

• DRAM and NAND memory chip maker Micron Technology (MU) showes higher-than-expected earnings, and also an outlook for Q3’s revenue and profit that blows away Street consensus.

BOISE, Idaho (AP) _ Micron Technology Inc. (MU) on Thursday reported fiscal second-quarter net income of $894 million, after reporting a loss in the same period a year earlier.

The Boise, Idaho-based company said it had profit of 77 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 90 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The chipmaker posted revenue of $4.65 billion in the period, meeting Street forecasts.

Micron shares have risen 21 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 5 percent. In the final minutes of trading on Thursday, shares hit $26.45, more than doubling in the last 12 months.