Micron Technology Inc.
(NASDAQ:MU) stock surged over 17% in premarket trading Thursday after the memory-chip maker reported fiscal third-quarter results that topped Wall Street expectations and issued stronger-than-expected fourth-quarter guidance.
Micron reported adjusted earnings of $25.11 per share, beating the analyst consensus estimate of $20.78, on revenue of $41.46 billion.
Adjusted gross margin was 84.9%.
For the fiscal fourth quarter, the company forecast adjusted earnings of about $31 per share on revenue of approximately $50 billion.
