Micron Technology Q3 adjusted earnings Beat Estimates

(RTTNews) - Micron Technology (MU) released a profit for third quarter that decreased from the same period last year.

The company's bottom line came in at $840 million, or $0.74 per share. This compares with $3823 million, or $3.10 per share, in last year's third quarter.

Excluding items, Micron Technology reported adjusted earnings of $1198 million or $1.05 per share for the period.

Analysts had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 38.6% to $4.79 billion from $7.80 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q3): $1198 Mln. vs. $3898 Mln. last year. -EPS (Q3): $1.05 vs. $3.15 last year. -Analysts Estimate: $0.83 -Revenue (Q3): $4.79 Bln vs. $7.80 Bln last year.