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Shares of Micron rose slightly in extended trading Wednesday following the release of the company’s better-than-expected second-quarter earnings. Beating on the top and bottom line, the chipmaker reported earnings per share of $1.71 on revenue of $5.84 billion. Wall Street had estimated earnings per share of $1.67 on revenue of $5.82 billion, according to Refinitiv.
Micron’s revenue compares to the $7.35 billion they earned in the same period last year. Micron President and CEO Sanjay Mehrotra cited a “challenging market environment” for the revenue decline in the company’s earnings release.