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FedEx, Micron Beat Estimates; Guide Different Directions
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Set aside from the plethora of quarterly earnings data during what's known as "earnings season," these past few trading days ahead of the Christmas holiday have shown some significant earnings results from some important companies in different industries, and today is no different. An infotech services major and a global logistics titan both put out fiscal Q2 2018 earnings results this afternoon, with somewhat different results.
Micron Technology (MU - Free Report) soundly beat fiscal Q1 2018 estimates on both top and bottom lines after Tuesday's closing bell: $2.45 per share easily outpaced the $2.20 in the Zacks consensus, and quarterly revenues of $6.80 billion was far ahead of the $6.39 billion expected, up 71% year over year. Gross margins rose 55.1%, topping the 50% last quarter.
The Zacks Rank #2-ranked memory and storage solutions leader also posted massive upward revisions to guidance: for next quarter a range of $2.51-2.64 per share is well beyond the $1.95 Zacks consensus, with revenue guidance looking for $6.8-7.2 billion in fiscal Q2, well above the $6.08 billion we had expected earlier. For more info on MU's earnings results, click here.
Global delivery and logistics giant FedEx (FDX - Free Report) outperfortmed expectations on its bottom line as well, but offered lower full-year earnings guidance than was previously expected. Earnings of $3.18 per share beat both the $2.87 Zacks consensus as well as the year-ago's $2.77 per share. Revenues in the quarter of $16.3 billion topped the $15.67 billion our analysts were expecting, but full-year guidance of $11.45 - 12.05 per share is well behind the Zacks consensus estimate of $12.47, which we now expect will be revised downward.
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report. Download it free >>
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FedEx, Micron Beat Estimates; Guide Different Directions
Set aside from the plethora of quarterly earnings data during what's known as "earnings season," these past few trading days ahead of the Christmas holiday have shown some significant earnings results from some important companies in different industries, and today is no different. An infotech services major and a global logistics titan both put out fiscal Q2 2018 earnings results this afternoon, with somewhat different results.
Micron Technology (MU - Free Report) soundly beat fiscal Q1 2018 estimates on both top and bottom lines after Tuesday's closing bell: $2.45 per share easily outpaced the $2.20 in the Zacks consensus, and quarterly revenues of $6.80 billion was far ahead of the $6.39 billion expected, up 71% year over year. Gross margins rose 55.1%, topping the 50% last quarter.
The Zacks Rank #2-ranked memory and storage solutions leader also posted massive upward revisions to guidance: for next quarter a range of $2.51-2.64 per share is well beyond the $1.95 Zacks consensus, with revenue guidance looking for $6.8-7.2 billion in fiscal Q2, well above the $6.08 billion we had expected earlier. For more info on MU's earnings results, click here.
Global delivery and logistics giant FedEx (FDX - Free Report) outperfortmed expectations on its bottom line as well, but offered lower full-year earnings guidance than was previously expected. Earnings of $3.18 per share beat both the $2.87 Zacks consensus as well as the year-ago's $2.77 per share. Revenues in the quarter of $16.3 billion topped the $15.67 billion our analysts were expecting, but full-year guidance of $11.45 - 12.05 per share is well behind the Zacks consensus estimate of $12.47, which we now expect will be revised downward.
This marks only the 2nd positive earnings surprise for FedEx in the last 5 quarters. For more info on FDX's earnings results, click here.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report. Download it free >>