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Micron Technology Q3 Profit Increases, beats estimates

Micron Technology (MU) announced earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $2.63 billion, or $2.34 per share. This compares with $1.74 billion, or $1.52 per share, in last year's third quarter.

Excluding items, Micron Technology reported adjusted earnings of $2.94 billion or $2.59 per share for the period.

Analysts on average had expected the company to earn $2.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.4% to $8.64 billion from $7.42 billion last year.

Micron Technology earnings at a glance (GAAP) :

-Earnings (Q3): $2.63 Bln. vs. $1.74 Bln. last year.
-EPS (Q3): $2.34 vs. $1.52 last year.
-Analyst Estimate: $2.44
-Revenue (Q3): $8.64 Bln vs. $7.42 Bln last year.

-Guidance:
Next quarter EPS guidance: Adj: $1.43 - $1.83
Next quarter revenue guidance: $6.8 - $7.6 Bln

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