US Stock Market Move | Micron Technology, Inc.(MU.US) soars more than 14% in pre-market trading, performance guidance greatly exceeds expectations.

On Thursday, Micron Technology, Inc. (MU.US) soared more than 14% in pre-market trading to $257.90. The financial report showed that Micron Technology, Inc. had an adjusted revenue of $13.64 billion in the first quarter, a 57% increase compared to the same period last year, higher than analysts' expectations of $12.95 billion. In GAAP term, net profit surged from $2 billion last year to $5.2 billion. In terms of cloud storage, the company's first quarter revenue was $5.284 billion, up from $4.543 billion in the previous quarter and $2.648 billion in the same period last year. Furthermore, the company's data center business had first quarter revenue of $2.379 billion, compared to $1.577 billion in the previous quarter and $2.292 billion in the same period last year. In terms of guidance, the company expects second quarter revenue to be $18.7 billion, with a range of $4 billion, far exceeding analysts' expectations of $14.38 billion.