Micron Technology Q2 adjusted earnings Beat Estimates

(RTTNews) - Micron Technology (MU) reported a profit for its second quarter that increased from last year.

The company's profit came in at $603 million, or $0.53 per share. This compares with $405 million, or $0.36 per share, in last year's second quarter.

Excluding items, Micron Technology reported adjusted earnings of $1.13 billion or $0.98 per share for the period.

Analysts had expected the company to earn $0.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 30.0% to $6.24 billion from $4.80 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q2): $1.13 Bln. vs. $0.52 Bln. last year. -EPS (Q2): $0.98 vs. $0.45 last year. -Analysts Estimate: $0.95 -Revenue (Q2): $6.24 Bln vs. $4.80 Bln last year.

-Guidance: Next quarter EPS guidance: $1.55 - $1.69 Next quarter revenue guidance: $6.9 - $7.3 Bln