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Micron (MU) Shares Gain 4% on Q2 Beat and Raise -Breaking

by Mike Robinson

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© Reuters. Micron (MU), Shares Rise 4% in Q2 Beat, Raise

Micron Technology (NASDAQ) shares rose by more than 4 percent after Micron Technology reported its Q2 results. Micron Technologys EPS was $2.14 which is better than the consensus estimate at $1.97. Revenue was at $7.79billion, exceeding the consensus estimate by $7.53billion. Micron generated $1 billion free cash flow in addition to strong profits.

Micron Technology’s President and CEO, Sanjay Mehrotra says that Micron Technology is the leader in DRAM and NAND technology and will continue to be a market leader in 2022. This is following a strong first half.

According to company’s Q3/22 outlook for the quarter, EPS will range between $2.56 and $2.36, compared with the consensus estimate of $2.21. Revenue is expected to be $8.5 billion to $9.9 billion, compared with the $8.06 billion consensus.

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