Micron Technology (NASDAQ: MU) shares are trading higher following a sales beat in the company's fiscal first quarter.
Micron reported quarterly earnings of 48 cents per share, which met the analyst consensus estimate. The company reported quarterly sales of $5.14 billion, which beat the analyst consensus estimate of $5.03 billion by 2.19%. This is a 35.04% decrease over sales of $7.913 billion the same period last year.
Micron sees second-quarter adjusted EPS of 29 cents to 41 cents versus a 41-cent analyst estimate, and sees sales at $4.5 billion to $4.8 billion versus a $4.78 billion estimate.
Micron's stock traded higher by 3.3% in Wednesday's after-hours session. The stock closed the regular session at $53.04 per share.
Micron Analysts Expect Lukewarm Q1, But Project Coming Inflection In Memory Pricing
Susquehanna Nearly Doubles Micron Price Target: 'Industry Dynamics Are Improving'
Photo credit: Mike Deal, Flickr
See more from Benzinga
- Jury Clears Elon Musk In 'Pedo Guy' Defamation Trial
- Giving Thanks For Life, Loss And Everything To Come
- Nutanix Trades Higher On Q1 Sales Beat
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.