Micron Know-how Inc. shares jumped in after-hours buying and selling Monday after the memory-chip maker stated gross sales surged within the third quarter and are anticipated to stay sturdy within the remaining interval of its fiscal yr amid the COVID-19 pandemic.
forecast adjusted fiscal fourth-quarter earnings of 95 cents to $1.15 a share on income of $5.75 billion to $6.25 billion, which might be an enormous acquire from a yr in the past when the corporate reported earnings of 56 cents a share on income of $4.87 billion.
Analysts surveyed by FactSet, on common, have been predicting fourth-quarter earnings of 79 cents a share on gross sales of $5.46 billion, in keeping with FactSet.
Shares gained greater than 5% in after-hours buying and selling, following a 1.4% acquire within the common session to shut at $49.15.
“As we glance forward on the second half, after all, , given the entire COVID setting and uncertainties round COVID across the globe, we mainly…