Investing.com - Micron (NASDAQ:MU) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Micron announced earnings per share of $0.45 on revenue of $4.80B. Analysts polled by Investing.com anticipated EPS of $0.37 on revenue of $4.69B. That with comparison to EPS of $1.71 on revenue of $5.84B in the same period a year before.Micron had reported EPS of $0.48 on revenue of $5.14B in the previous quarter.Analysts are expecting EPS of $0.54 and revenue of $4.91B in the upcoming quarter.
Micron shares are down 21% from the beginning of the year and are trading at $44.01 , down-from-52-week-high.They are outperforming the S&P 500 which is down 23.62% year to date.
Micron shares gained 4.26% in after-hours trade the report.
Micron follows other major Technology sector earnings this month
Micron's report follows an earnings beat by Adobe on Thursday, March 12, 2020, who reported EPS of $2.27 on revenue of $3.09B, compared to forecasts EPS of $2.23 on revenue of $3.05B.
Oracle had beat expectations on Thursday, March 12, 2020 with third quarter EPS of $0.97 on revenue of $9.8B, compared to forecast for EPS of $0.96 on revenue of $9.75B.
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