Micron (NASDAQ:MU) had a mixed Wednesday afternoon as the company reported its latest quarterly earnings results, which came in ahead of analysts’ expectations, but shares still fell late in the day.
The semiconductor manufacturer has experienced continued growth in recent quarters, while also posting profits and revenues that surpassed Wall Street’s guidance. The company reported net income for its third quarter of fiscal 2018 of $3.82 billion, coming in at roughly $3.10 per share.
After adjustments for stock-based compensation and other effects, Micron brought in earnings of roughly $3.15 per share, which is nearly double of the $1.62 per share it brought in during the year-ago period. Analysts were calling for the company to tally up adjusted earnings of $3.13 per share, according to data compiled by FactSet.
On the revenue front, the company brought in sales of $7.8 billion, which is better than its year-ago total of $5.57 billion. Wall Street was calling for revenue of $7.76 billion, according to data compiled by FactSet in its analysts survey.
MU stock fell about 0.5% during regular trading hours Wednesday in anticipation of the company’s quarterly earnings showing. The company’s shares declined a further 1.5% after the bell despite its strong results.
