Micron Technology Lifts Q1 Outlook

(RTTNews) - Micron Technology Inc. (MU) said that it raised its guidance for the first quarter of fiscal 2021.

The company now expects quarterly GAAP earnings per share to be in the range of $0.61 - $0.65 and non-GAAP earnings per share of $0.69 - $0.73. Previously, the company expected GAAP earnings per share to be $0.32 - $0.46, and non-GAAP earnings per share of $0.40 - $0.54. Analysts polled by Thomson Reuters expect the company to report earnings of $0.48 per share for the first-quarter. Analysts' estimates typically exclude special items.

The company raised its first-quarter revenue outlook to a range of $5.70 billion - $5.75 billion from the prior year outlook of $5.0 billion - $5.4 billion. Analysts expect revenues of $5.25 billion for the quarter.