Chip maker Micron Technology’s latest earnings beat Wall Street’s forecasts. Dreamstime
Micron Technology did more on Thursday afternoon than just report a strong quarter and better-than-expected guidance it also suggested a brighter business outlook for next year and beyond.
As a reminder, Micron (ticker: MU) reported revenue for the fiscal first quarter ended Dec. 3 of nearly $5.77 billion, up 12% from a year ago, with non-GAAP profit of 78 cents a share. That beat the company’s own recently increased guidance and Wall Street’s estimates.
Next quarter’s guidance was impressive as well. For the fiscal second quarter ending in February, Micron projects revenue of $5.8 billion, with adjusted profit of 75 cents a share, well ahead of the previous Street consensus of $5.5 billion and 63 cents.
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