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Micron Technology Q2 adjusted earnings Beat Estimates

Micron Technology (MU) reported a profit for second quarter that declined from the same period last year.

The company's earnings totaled $0.41 billion, or $0.36 per share. This compares with $1.62 billion, or $1.42 per share, in last year's second quarter.

Excluding items, Micron Technology reported adjusted earnings of $0.52 billion or $0.45 per share for the period.

Analysts had expected the company to earn $0.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 17.8% to $4.80 billion from $5.84 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q2): $0.52 Bln. vs. $1.97 Bln. last year.
-EPS (Q2): $0.45 vs. $1.71 last year.
-Analysts Estimate: $0.37
-Revenue (Q2): $4.80 Bln vs. $5.84 Bln last year.

Next quarter EPS guidance: $0.40 - 0.70
Next quarter revenue guidance: $4.6 - $5.2 Bln

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