Micron Technology Lifts Q3 Outlook - Quick Facts

(RTTNews) - Micron Technology, Inc. (MU), which is hosting an Analyst and Investor Event later today, said it has raised its revenue and earnings per share outlook for its fiscal third quarter, which ends May 31, 2018. The company attributed the revised guidance to strong execution of its strategy and healthy industry conditions.

Accordingly, for the third quarter, Micron Technology now forecasts revenue in a range of $7.70 billion to $7.80 billion, up from the prior range of $7.20 billion to $7.60 billion.

The company now projects third-quarter earnings in a range of $3.12 to $3.16 per share, compared to the prior range of $2.76 to $2.90 per share, based on 1,238 million diluted shares.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.84 per share for the third quarter on revenues of $7.46 billion. Analysts' estimates typically exclude special items.