Benzinga | Dec 20, 2021 06:55PM EST

Recap: Micron Technology Q1 Earnings

Micron Technology (NASDAQ:MU) reported its Q1 earnings results on Monday, December 20, 2021 at 04:05 PM.

Here's what investors need to know about the announcement.

Earnings

Micron Technology beat estimated earnings by 2.37%, reporting an EPS of $2.16 versus an estimate of $2.11, which did not surprise analysts.

Revenue was up $1,914,000,000 from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.09, which was followed by a 2.0% drop in the share price the next day.

Here's a look at Micron Technology's past performance:



Quarter Q4 2021 Q3 2021 Q2 2021 Q1 2021EPS Estimate 2.33 1.71 0.95 0.71EPS Actual 2.42 1.88 0.98 0.78Revenue Estimate 8.22B 7.23B 6.21B 5.73BRevenue Actual 8.27B 7.42B 6.24B 5.77B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Micron Technology management provided guidance for their next quarter, expecting earnings between $2.0 and $2.2 per share for the nextquarter.

This represents a -2.78% in quarter-over-quarter growth for Micron Technology, a bearish signal to many investors.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.