Micron meets 4Q profit forecasts


Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Thursday reported fiscal fourth-quarter profit of $1.15 billion.

On a per-share basis, the Boise, Idaho-based company said it had net income of 96 cents. Earnings, adjusted for one-time gains and costs, were 82 cents per share.

The results matched Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 82 cents per share.

The chipmaker posted revenue of $4.23 billion in the period, topping Street forecasts. Analysts expected $4.17 billion, according to Zacks.

Micron shares have increased 46 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 7 percent. In the final minutes of trading on Thursday, shares hit $31.79, a rise of 87 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. A stock research report on MU from Zacks is available at: http://www.zacks.com/ap/MU

_____

Keywords:Micron,Earnings Report

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

Business
The Associated Press
    KSL.com Beyond Business
    KSL.com Beyond Series

    KSL Weather Forecast

    KSL Weather Forecast
    Play button