Micron Technology Q4 adjusted earnings Beat Estimates

(RTTNews) - Micron Technology (MU) revealed earnings for its fourth quarter that climbed from the same period last year.

The company's earnings totaled $988 million, or $0.87 per share. This compares with $561 million, or $0.49 per share, in last year's fourth quarter.

Excluding items, Micron Technology reported adjusted earnings of $1.23 billion or $1.08 per share for the period.

Analysts had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.4% to $6.06 billion from $4.87 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q4): $1.23 Bln. vs. $0.64 Bln. last year. -EPS (Q4): $1.08 vs. $0.56 last year. -Analysts Estimate: $0.99 -Revenue (Q4): $6.06 Bln vs. $4.87 Bln last year.

-Guidance: Next quarter EPS guidance: $0.40 - $0.54 Next quarter revenue guidance: $5.0 - $5.4 Bln