Micron Technology, Inc. (NASDAQ: MU) shares were falling in Thursday's after-hours session following the memory company's fourth-quarter print.
Adjusted earnings came in at 56 cents per share, beating estimates by 8 cents. Sales came in at $4.87 billion, beating estimates by $310 million.
The company guided to first-quarter adjusted EPS of 39-53 cents vs. a 48-cent Street estimate and sales of $4.8-$5.2 billion against a $4.76-billion Street estimate.
"Micron delivered fourth-quarter results ahead of expectations, capping a fiscal 2019 in which we executed well in a challenging environment, significantly improved our competitive position and returned cash to shareholders through share repurchases," CEO Sanjay Mehrotra said in a statement.
"We are encouraged by signs of improving industry demand, but are mindful of continued near-term macroeconomic and trade uncertainties. As markets recover, Micron is well-positioned to address the robust secular demand for memory and storage solutions."
Micron shares were down 5.76% at $45.80 at the time of publication.
- GAAP net income of $561 million
- Non-GAAP net income of $637 million
- Operating cash flow of $2.23 billion
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A Preview Of Micron Technology Earnings
Photo courtesy of Micron Technology.
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