Micron Q3 earnings top Wall Street estimates

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Micron Technology (MU) reported third quarter results that topped Wall Street estimates on both the top and bottom lines. The chip company reported adjusted earnings per share of $0.62 versus the estimate of $0.50. Adjusted revenue of $6.81 billion topped the estimated $6.67 billion.

For the fourth quarter, Micron expects to report adjusted earnings per share in a range of $1.00-$1.16. The Street was expecting $1.02. The company sees adjusted revenue in a range of $7.4 billion-$7.8 billion. Analysts had been expecting $7.58 billion. 

Yahoo Finance's Josh Lipton and Julie Hyman break down the report.

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This post was written by Stephanie Mikulich.