BOISE, Idaho (AP) — BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Thursday reported fiscal second-quarter profit of $1.58 billion.
On a per-share basis, the Boise, Idaho-based company said it had profit of $1.41. Earnings, adjusted for stock option expense and non-recurring costs, were $1.56 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.
The chipmaker posted revenue of $8.05 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $7.9 billion.
For the current quarter ending in May, Micron expects its per-share earnings to range from $1.47 to $1.67.
The company said it expects revenue in the range of $8.6 billion to $9 billion for the fiscal third quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MU at https://www.zacks.com/ap/MU
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