Micron Trades Higher On Q1 Sales Beat

Micron Technology 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.

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