Micron surpasses expectations with strong Q2 guidance and beat-and-raise report
Micron Technologies reported better-than-expected first-quarter results, with an adjusted earnings per share loss of $0.95 and revenue of $4.73 billion. The memory chipmaker also issued upbeat guidance for the second quarter, exceeding expectations. Analysts believe that Micron is executing well and burning off inventory, and expect the company to benefit from improving business fundamentals and potential growth in the technology industry.