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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.
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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.
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Photo credit: Mike Deal, Flickr
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.