Micron Technology Q2 adjusted earnings Beat Estimates

(RTTNews) - Micron Technology (MU) reported earnings for second quarter that dropped from the same period last year.

The company's bottom line came in at $1.62 billion, or $1.42 per share. This compares with $3.31 billion, or $2.67 per share, in last year's second quarter.

Excluding items, Micron Technology reported adjusted earnings of $1.97 billion or $1.71 per share for the period.

Analysts had expected the company to earn $1.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 20.5% to $5.84 billion from $7.35 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q2): $1.97 Bln. vs. $3.50 Bln. last year. -EPS (Q2): $1.71 vs. $2.82 last year. -Analysts Estimate: $1.67 -Revenue (Q2): $5.84 Bln vs. $7.35 Bln last year.