MU - Micron Stock Is Soaring Thursday: What's Going On? | Benzinga
Micron Technology Inc (NASDAQ:MU) shares are surging Thursday after the company reported better-than-expected quarterly results and issued an upbeat outlook. Multiple analysts also lifted price targets on the stock following the print.
What Happened: Micron reported first-quarter revenue of $5.82 billion, which beat the consensus estimate of $5.342 billion. The company reported a surprise profit of 42 cents per share, which beat analyst estimates for a loss of 25 cents per share.
Operating cash flow came in at $1.22 billion, up from $343 million in the prior year's quarter, but down from $1.4 billion quarter-over-quarter. Adjusted free cash flow came in at negative $29 million for the quarter.
“Micron ...