Micron Tech shares rise after earnings beat
Micron Technology Inc. (MU) shares rose in the extended session Tuesday after the chip maker topped Wall Street estimates. Micron shares advanced 4% to $35.62 after hours. The company reported fiscal fourth-quarter net income of $2.37 billion, or $1.99 a share, compared to a loss of $170 million, or 16 cents a share, in the year-ago period. Adjusted earnings were $2.02 a share. Revenue rose to $6.14 billion from $3.22 billion in the year-ago period. Analysts surveyed by FactSet had estimated $1.82 a share on revenue of $5.94 billion.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
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