Market Overview

Micron Technology Jumps Despite Wider Loss

Boise, Idaho-based chip-maker Micron Technology (NYSE: MU) released its fiscal second-quarter earnings results on Thursday after the closing bell.

In late trading, Micron was last up more than five percent to $9.55 despite the company reporting a wider loss in the quarter.

Micron said that its second-quarter loss was $286 million or $0.28 per share, compared to a loss of $282 million or $0.29 per share, in last year's second-quarter. This compared to Wall Street analysts' consensus estimates calling for a loss of $0.19.

Revenue was $2.08 billion compared to $2.01 billion last year. This easily beat consensus revenue expectations of $1.92 billion and is likely the reason the stock is trading higher in the after-hours.

Posted-In: Earnings News Guidance After-Hours Center Movers Best of Benzinga

 

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