Investing.com - Micron (NASDAQ:MU) reported first quarter earnings that beat analysts' expectations on Tuesday and revenue that fell short of forecasts.
The firm reported earnings per share of $2.97 on revenue of $7.91B. Analysts polled by Investing.com forecast EPS of $2.94 on revenue of $8.01B. That compared to EPS of $2.45 on revenue of $6.80B in the same period a year earlier. The company had reported EPS of $3.53 on revenue of $8.44B in the previous quarter.
For the year, Micron shares are down 17.05%, under-performing the S&P 500 which is down 5.13% year to date.
Micron follows other major Technology sector earnings this month
On Monday, Oracle reported second quarter EPS of $0.8 on revenue of $9.57B, compared to forecasts of EPS of $0.78 on revenue of $9.52B.
Adobe earnings missed analyst's expectations on December 13, with fourth quarter EPS of $1.83 on revenue of $2.46B. Investing.com analysts expected EPS of $1.88 on revenue of $2.43B
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