Micron Turns In Better-Than-Expected Q3 Results, Shares Jump
Portfolio Pulse from Adam Eckert
Micron Technology Inc reported better-than-expected Q3 results, with revenue of $3.75 billion beating the consensus estimate of $3.65 billion. The company also reported a smaller loss than anticipated. Despite a weak earnings outlook and the Cyberspace Administration of China's decision to ban Chinese companies from buying Micron products, shares rose in after-hours trading.
June 28, 2023 | 8:28 pm
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Micron Technology's better-than-expected Q3 results and smaller loss than anticipated led to a rise in shares, despite a weak earnings outlook and China's ban on Micron products.
Micron Technology's Q3 results exceeded expectations, which is a positive signal to investors and can lead to a rise in stock price. However, the company's weak earnings outlook and China's ban on Micron products could potentially negatively impact the stock price in the future.
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