Micron beats by $0.18, beats on revs; guides Q1 EPS and revs above consensus
- Reports Q4 (Aug) earnings of $2.02 per share, $0.18 better than the Capital IQ Consensus of $1.84; revenues rose 90.8% year/year to $6.14 bln vs the $5.97 bln Capital IQ Consensus, with DRAM sales volumes 5 percent higher and NAND sales volumes 3 percent higher. DRAM and NAND average selling prices for the quarter increased 8 percent and 5 percent, respectively. Our overall consolidated gross margin of 50.7 percent for the fourth quarter of 2017 was higher compared to 46.9 percent in the third quarter due to expansion of margins for DRAM products.
- Co issues upside guidance for Q1, sees non-GAAP EPS of $2.09-2.23 vs. $1.84 Capital IQ Consensus Estimate; sees Q1 revs of $6.1-6.5 bln vs. $6.06 bln Capital IQ Consensus Estimate.