Micron raises third-quarter revenue forecast

(Reuters) – Micron Technology Inc raised its revenue forecast for the third quarter on Wednesday to a range of $5.2 billion to $5.4 billion from $4.6 billion to $5.2 billion, sending its shares about 3% higher.

The chipmaker said in a regulatory filing https://www.sec.gov/ix?doc=/Archives/edgar/data/723125/000072312520000053/mu-20200527.htm that it expected adjusted earnings between 75 cents per share and 80 cents per share.

Analysts had expected a revenue of $4.93 billion and adjusted earnings of 56 cents per share, according to IBES data from Refinitiv.

(Reporting by Ayanti Bera in Bengaluru; editing by Uttaresh.V)