Micron Technology Q1 adjusted earnings Beat Estimates

(RTTNews) - Micron Technology (MU) revealed earnings for its first quarter that climbed from the same period last year.

The company's profit totaled $3.29 billion, or $2.81 per share. This compares with $2.68 billion, or $2.19 per share, in last year's first quarter.

Excluding items, Micron Technology reported adjusted earnings of $3.51 billion or $2.97 per share for the period.

Analysts had expected the company to earn $2.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.3% to $7.91 billion from $6.80 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q1): $3.51 Bln. vs. $2.99 Bln. last year. -EPS (Q1): $2.97 vs. $2.45 last year. -Analysts Estimate: $2.96 -Revenue (Q1): $7.91 Bln vs. $6.80 Bln last year.