Micron Technology Q4 adjusted earnings Beat Estimates

(RTTNews) - Micron Technology (MU) announced a profit for its fourth quarter that climbed from last year.

The company's profit totaled $2.72 billion, or $2.39 per share. This compares with $0.99 billion, or $0.87 per share, in last year's fourth quarter.

Excluding items, Micron Technology reported adjusted earnings of $2.78 billion or $2.42 per share for the period.

Analysts had expected the company to earn $2.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 36.5% to $8.27 billion from $6.06 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q4): $2.78 Bln. vs. $1.23 Bln. last year. -EPS (Q4): $2.42 vs. $1.08 last year. -Analysts Estimate: $2.33 -Revenue (Q4): $8.27 Bln vs. $6.06 Bln last year.

-Guidance: Next quarter EPS guidance: $2.00 - $2.20 Next quarter revenue guidance: $7.45 - $7.85 Bln