Micron tops Q4 estimates on top and bottom line, offers strong Q1 outlook

Memory giant Micron (MU) reported its fourth quarter earnings after the bell on Wednesday, beating Wall Street's expectations on the top and bottom lines, and offering a better than anticipated Q1 outlook.

For the quarter, Micron reported earnings per share of $33.42 on revenue of $54.23 billion. Analysts were looking for EPS of $31.83 and revenue of $51.49 billion, according to Bloomberg analyst consensus estimates.

The company saw EPS of $3.03 and revenue of $11.31 billion in the same quarter last year.

For the second quarter, Micron is projecting revenue of between $60 billon and $63 billion, analysts were calling for $56.77 billion.