Micron Technology (NASDAQ:MU) shares rose more than 4% after-hours following the company's reported Q2 results, with EPS of $2.14 coming in better than the consensus estimate of $1.97. Revenue came in at $7.79 billion, beating the consensus estimate of $7.53 billion. In addition to the strong profits, Micron posted $1 billion in free cash flow.
According to Sanjay Mehrotra, the President and CEO of Micron Technology, the company is leading the industry in technology across DRAM and NAND, and is on track to deliver record revenue and robust profitability in fiscal 2022 following an outstanding 1st-half.
The company provided its Q3/22 outlook, expecting the EPS to range from $2.56 to $2.36, compared to the consensus of $2.21, and revenue to range from $8.5 billion to $8.9 billion, compared to the consensus of $8.06 billion.