Micron Technology Q4 adjusted earnings Beat Estimates

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

The company's bottom line totaled $4.33 billion, or $3.56 per share. This compares with $2.37 billion, or $1.99 per share, in last year's fourth quarter.

Excluding items, Micron Technology reported adjusted earnings of $4.31 billion or $3.53 per share for the period.

Analysts had expected the company to earn $3.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 37.5% to $8.44 billion from $6.14 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q4): $4.31 Bln. vs. $2.39 Bln. last year. -EPS (Q4): $3.53 vs. $2.02 last year. -Analysts Estimate: $3.34 -Revenue (Q4): $8.44 Bln vs. $6.14 Bln last year.