Micron Technology Q3 adjusted earnings Beat Estimates

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

The company's earnings came in at $1.74 billion, or $1.52 per share. This compares with $0.80 billion, or $0.71 per share, in last year's third quarter.

Excluding items, Micron Technology reported adjusted earnings of $2.17 billion or $1.88 per share for the period.

Analysts had expected the company to earn $1.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 36.4% to $7.42 billion from $5.44 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q3): $2.17 Bln. vs. $0.94 Bln. last year. -EPS (Q3): $1.88 vs. $0.82 last year. -Analysts Estimate: $1.71 -Revenue (Q3): $7.42 Bln vs. $5.44 Bln last year.

-Guidance: Next quarter EPS guidance: $2.20 - $2.40 Next quarter revenue guidance: $8.0 - $8.4 Bln