Market Overview

Two Tech Earnings Calls To Watch On Thursday: Micron & Progress Software

  • Micron Technology, Inc. (NASDAQ: MU) and Progress Software Corporation (NASDAQ: PRGS) are scheduled to report quarterly financial results on Thursday after the market closes.
  • Wall Street analysts are expecting to see year-over-year declines in both companies’ earnings.
  • Shares of Micron rose 4.17 percent ahead of the earnings call. Shares of Progress surged 1.57 percent.

Micron Technology

For the fourth quarter of fiscal 2015, the provider of semiconductor devices is expected to deliver a year-over-year decline of more than 50 percent.

In the fourth quarter of 2014, Micron delivered earnings of $0.82 per share on revenue of $4.227 billion. In the latest quarter, earnings came it at $0.54 per share, and revenue came in at $3.853 billion.

For the current quarter, the Street anticipates consensus earnings of $0.37 per share on revenue of $3.602 billion, while the crowd projects consensus earnings of $0.42 per share on sales of $3.633 billion (Estimize). Management guided for sales in the range of $3.45 billion to $3.7 billion.

It should be noted from the chart above that Micron has tended to beat estimates in the last eight quarters.

Progress Software

Management guided for earnings of $0.35 to $0.38 per share on revenue of $101 million to $104 million. These results would imply a decline from the earnings of $0.39 per share (on revenue of $79.3 million) reported a year ago.

Both the Street and the crowd expect earnings close to the lower end of the guidance, at $0.36 per share (Estimize). In terms of sales, Wall Street models $102.9 million, while the crowd envisions revenue of $103.18 million.

The company has a tendency to beat estimates and guidance.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

Posted-In: EstimizePreviews Tech Trading Ideas


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