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Home STOCKS Micron Earnings, Revenue Beat in Q3 Amid Production Ramp-Up

Micron Earnings, Revenue Beat in Q3 Amid Production Ramp-Up


By Yasin Ebrahim
Investing.com – Micron jumped in soon after-hours on Monday after memory maker noted fiscal 3rd-quarter success that beat on the top and bottom traces pursuing a ramp-up in production.
Micron Engineering (NASDAQ:) jumped 6% soon after climbing 1.3% in regular investing.
The enterprise shipped earnings of 82 cents on revenue of $5.44 billion, up calendar year-on-12 months from 72 cents and $4.79 billion respectively, and topping consensus estimates from Investing.com for earnings of 75 cents on revenue of 5.26 billion.   
The organization formerly claimed it predicted adjusted earnings of 75 cents to 80 cents a share for the fiscal third quarter.
“We are ramping the industry’s most highly developed DRAM technologies into production and have sent a lot more than 75% of our NAND volume as high-value alternatives, supported by record SSD revenue in the quarter,” the organization said. “Our portfolio momentum positions us exceedingly perfectly to leverage the long-term growth across our close markets.”
For the fiscal fourth quarter, the corporation guided revenue in the range of $5.75 billion to $6.25 billion.
 

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