By Yasin Ebrahim
biedex.com – Micron jumped in after-hours on Monday after memory maker reported fiscal third-quarter results that beat on the top and bottom lines following a ramp-up in production.
Micron Technology (NASDAQ:) jumped 6% after climbing 1.3% in regular trading.
The company delivered earnings of 82 cents on revenue of $5.44 billion, up year-on-year from 72 cents and $4.79 billion respectively, and topping consensus estimates from biedex.com for earnings of 75 cents on revenue of 5.26 billion.
The company previously said it expected adjusted earnings of 75 cents to 80 cents a share for the fiscal third quarter.
“We are ramping the industry’s most advanced DRAM technology into production and have delivered more than 75% of our NAND volume as high-value solutions, supported by record SSD revenue in the quarter,” the company said. “Our portfolio momentum positions us exceedingly well to leverage the long-term growth across our end markets.”
For the fiscal fourth quarter, the company guided revenue in the range of $5.75 billion to $6.25 billion.