Micron Technology Lifts Q4 Outlook To Reflect Improved Pricing; Stock Up Over 5% In Pre-Market

(RTTNews) - Micron Technology, Inc. (MU), a provider of memory and storage solutions, on Monday revised up its final quarter guidance to reflect improved pricing, particularly in DRAM, and strong execution.

For the fourth quarter, the company now expects a net profit per share of $2.64 ± $0.07, higher than the earlier outlook of $2.29 ± $0.15 per share.

Excluding items, income per share is now anticipated to be $2.85 ± $0.07, compared with the earlier projection of $2.50 ± $0.15 per share.

Micron now anticipates revenue of $11.2 billion ± $100 million against the prior guidance of $10.7 billion ± $300 million.

On average, 28 analysts polled forecast the company to earn $2.52 per share, on revenue of $10.74 billion for the quarter. Analysts' estimates typically exclude special items.

MU was up by 5.12% at $124.98 in the pre-market trade on the Nasdaq.