- The company earned $0.20 per share, beating estimates by $0.04 per share.
- Revenue was $2.84 billion, far higher than the consensus estimate of $2.7 billion.
- The average selling price (ASP) rose 5% while volumes rose 6%.
Micron pointed to a desire to reduce its debt during its conference call. The company is looking to manage operational costs while concurrently benefiting from solid demand and constrained supply.And Micron has a healthy balance sheet, with $4.2 billion in cash. There may be rewards to reap from the acquisition of Elpida. But will the optimism spread across the industry, or trickle down to shareholders? (Written by Chris Lau. Stock price data sourced from Finviz.)