Micron: Fiscal 4Q Earnings Snapshot
BOISE, Idaho (AP) _ Micron Technology Inc. (MU) on Thursday reported fiscal fourth-quarter earnings of $4.33 billion.
On a per-share basis, the Boise, Idaho-based company said it had net income of $3.56. Earnings, adjusted for non-recurring gains, came to $3.53 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.32 per share.
The chipmaker posted revenue of $8.44 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $8.25 billion.
For the year, the company reported profit of $14.14 billion, or $11.51 per share. Revenue was reported as $30.39 billion.
Micron shares have increased 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 10 percent. In the final minutes of trading on Thursday, shares hit $46.06, a climb of 28 percent in the last 12 months.
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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