Micron Technology Inc (NASDAQ:MU) looks to continue a streak of beating analyst estimates when the company reports first-quarter financial results Wednesday after market close.
• Micron Technology stock is showing positive momentum. What’s ahead for MU stock?
Here are the earnings estimates, what analysts are saying ahead of the report and the key items to watch.
Earnings Estimates: Analysts expect Micron to report first-quarter revenue of $12.81 billion, up from $8.71 billion, according to data from Benzinga Pro.
The estimated revenue would mark a new record for the company, surpassing the $11.31 billion reported in the fourth quarter. Micron has broken its quarterly record in two straight quarters, with a third potential record coming this week.
Micron has beaten analyst estimates for revenue in 10 straight quarters.
Analysts expect Micron to report first-quarter earnings per share of $3.93, up from $1.79 in last year’s first quarter.
The company has beaten analyst estimates for earnings per share in seven straight quarters and in nine of the past 10 quarters overall.
Guidance from the company calls for first-quarter revenue in a range of $12.2 billion to $12.8 billion and earnings per share in a range of $3.60 to $3.90.
What Analysts Are Saying: Micron will set a new quarterly record and …