Shares of Micron Technology gained 4.1% in Wednesday’s extended trading session after the memory chip maker delivered better-than-expected 2Q results and provided guidance for the current quarter that exceeded analysts’ expectations. Micron’s (MU) 2Q adjusted earnings jumped to $0.98 per share from $0.45 reported in the year-ago quarter. Moreover, the bottom-line result topped Street estimates of $0.95 per share. Revenues jumped 30% to $6.24 billion and came in ahead of the consensus estimates of $6.21 billion. The company’s CEO Sanjay Mehrotra said, “Micron’s strong fiscal second quarter performance reflects rapidly improving market conditions and continued solid execution.
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Micron Technology (NASDAQ:MU)
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