Micron Technology Expects Fiscal Q4 EPS Above Street

Micron Technology (MU) rose nearly 2% in Wednesday’s after hours session after the company provided guidance for fiscal Q4, with EPS expected above Street view and revenue in line with forecasts.

The company expects fiscal Q4 earnings per share of $3.23 – $3.37 on revenue of $8 billion – $8.4 billion, versus the Capital IQ consensus estimate of $3.17 EPS on revenue of $8.02 billion.

It expects gross margin in the range of 59% – 62% and operating expenses of $725 million – $775 million for the quarter. The company also sees FY18 capital expenditures to be about $8 billion.

For fiscal Q3, Micron had reported adjusted EPS of $3.15, up from $1.62 a year earlier, exceeding analysts’ estimates of $3.13 in a Capital IQ poll. Revenue jumped 40% to $7.80 billion from $5.57 billion a year ago, also ahead of the $7.76 billion estimate.