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Update: Micron Shares Rise After Fiscal Q3 Results Beat Estimates

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(Updates with the latest stock move in the headline and the first paragraph.)

Micron Technology (MU) shares rose 10% in Thursday trading a day after the company reported fiscal Q3 adjusted earnings and revenue that topped estimates, with Q4 guidance also beating consensus.

Q3 adjusted earnings jumped to $25.11 per diluted share from $1.91 a year earlier. Analysts polled by FactSet expected $20.86.

Revenue in the quarter ended May 28 surged to $41.5 billion from $9.3 billion a year earlier. Analysts expected $35.9 billion.

Micron expects fiscal Q4 adjusted EPS of $31, plus or minus $1, on revenue of $50 billion, plus or minus $1 billion. Analysts expect EPS of $25.72 on revenue of $43.6 billion.

The company maintained its quarterly dividend at $0.15 a share, payable July 21 to stockholders of record on July 6.

Price: $1155.57, Change: $+107.65, Percent Change: +10.27%

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