Micron shares surged nearly 8% in after hours trading on Wednesday after the memory chipmaker reported record quarterly results that comfortably beat Wall Street expectations.
The company generated $41.46 billion in revenue during its fiscal third quarter, up from $23.86 billion in the previous quarter and $9.3 billion during the same period last year.
Wall Street analysts had expected revenue of about $35.9 billion.
Adjusted earnings reached $25.11 per diluted share, compared with analyst estimates near $20.83. Micron reported adjusted net income of $28.86 billion.
The company’s outlook also came in ahead of expectations.
