Investing.com - Micron (NASDAQ:MU) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Micron announced earnings per share of $0.45 on revenue of $4.80B. Analysts polled by Investing.com anticipated EPS of $0.37 on revenue of $4.69B. That with comparison to EPS of $1.71 on revenue of $5.84B in the same period a year before.Micron had reported EPS of $0.48 on revenue of $5.14B in the previous quarter.Analysts are expecting EPS of $0.54 and revenue of $4.91B in the upcoming quarter.
Micron shares are down 21% from the beginning of the year and are trading at $44.01 , down-from-52-week-high.They are outperforming the S&P 500 which is down 23.62% year to date.
Micron shares gained 4.26% in after-hours trade after the report.
Micron follows other major Technology sector earnings this month
Micron's report follows an earnings beat by Adobe on Thursday, March 12, 2020, who reported EPS of $2.27 on revenue of $3.09B, compared to forecasts EPS of $2.23 on revenue of $3.05B.
Oracle had beat expectations on Thursday, March 12, 2020 with third quarter EPS of $0.97 on revenue of $9.8B, compared to forecast for EPS of $0.96 on revenue of $9.75B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar