6/29 Micron Q3 beats estimates, OCF doubled on year; shares up aftermarket
• Micron Technology (NASDAQ:MU) reports Q3 results with EPS and revenue beats. Revenue growth primarily due to 14% increase in DRAM selling prices and 17% increase in trade NAND sales volumes.
• Non-GAAP gross margin was 48% due to lower manufacturing costs for NAND and DRAM and the lower selling prices.
• CapEx was $1.27B and Micron ended the quarter with $4.93 in cash and short-term investments. Cash flow from operations more than doubled on the year to $4.9B.
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