Micron Technology Q1 Earnings Preview

Micron Technology MU announces its next round of earnings this Wednesday, December 18. Here's Benzinga's look at Micron's Q1 earnings report.

Earnings and Revenue

Analysts expect Micron earnings of 48 cents per share. Revenue will likely be around $5.03 billion, according to the consensus estimate.

See Also: Micron Analysts Expect Lukewarm Q1, But Project Coming Inflection In Memory Pricing

In the same quarter last year, Micron reported EPS of $2.97 on revenue of $7.91 billion. If the company were to report inline earnings when it publishes results Wednesday, earnings would be down 83.84%. Sales would be down 36.43% on a year-over-year basis. Here's how the company's reported EPS has stacked up against analyst estimates in the past:

Stock Performance

Over the last 52-week period, shares are up 54.8%. Given that these returns are generally positive, long-term shareholders can be content going into this earnings release.

Analysts have adjusted their estimates lower for EPS and revenues over the past 90 days. Analysts generally rate Micron stock as Neutral. The strength of this rating has maintained conviction over the past three months.

Conference Call

Micron is scheduled to hold a conference call at 4:30 p.m. ET and can be accessed here: https://edge.media-server.com/mmc/p/xxobndmy