Micron Technology Beats Estimates, Stock Falling After Hours (MU)

Micron Technology MU released their quarterly earnings numbers after the closing bell this afternoon. The company reported earnings per share of $0.92 compared to a loss of $0.36 in the year ago period. Wall Street analysts had anticipated that Micron (MU) would report EPS of $0.43. The company said that its third quarter results were impacted by $488 million in purchase accounting gains relating to the Numonyx acquisition. Net sales came in at $2.29 billion versus $1.11 billion in last year's third quarter. Analysts' consensus revenue estimates going into the report were set at $2.12 billion. During regular market hours, MU shares surged 5.92% to $10.02, but are losing ground in the after hours trading session, falling nearly 5% to $9.52.