Micron Beats Earnings Estimates

Micron's(MU Quote) diversification efforts resulted in a larger-than-expected profit in its third quarter, although sales fell short of Wall Street expectations.

The Boise, Idaho, company said it earned $89 million, or 12 cents a share, in the three months ended June 1, with total sales of $1.31 billion.

The top line was shy of the average analysts' expectation of $1.37 billion in revenue, but Micron's EPS was higher than the 10-cent-a-share expectation, according to Thomson First Call. ...