Micron pops as Q2 results, guidance top estimates
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Micron Technology (NASDAQ:MU) shares rose after the computer memory company posted second-quarter results and issued third-quarter guidance that beat estimates. 
For the period ending March 3, Micron said it earned $2 a share on $7.79 billion in revenue. Gross margins, a closely watched measure, came in at 47.2%.
A consensus of Wall Street analysts expected Micron (MU) to earn $1.98 per share on $7.53 billion in revenue for the second quarter.
Micron (MU) shares gained slightly more than 4% to $85.51 in after-hours trading on Tuesday.
During the quarter, Micron generated $3.63 billion in operating cash flow, down from $3.94 billion in the prior quarter but above the $3.06 billion it generated in the year-ago quarter. 
For the third-quarter, Micron said it expects revenue to be between $8.5 billion and $8.9 billion, with adjusted earnings per share expected to be between $2.36 and $2.56 per share. Gross margins are forecast to come in between 46% and 48%.
Analysts were expecting the company to generate $8.16 billion in revenue and earn an adjusted $2.25 per share.
The company also said it would pay its quarterly dividend of 10 cents per share to shareholders as of the close of April 11, 2022. The dividend will be paid on April 26.
The company will hold a conference call at 4:30 p.m. EST to discuss the results. 
Last week, Micron's (MU) Chief Executive Sanjay Mehrotra testified in front of Congress to ask for more government support for the domestic semiconductor industry, though Bank of America said it would not be a "silver bullet."