This replaces an earlier item that compared the incorrect earnings number with analysts forecasts.

Shares of Micron Technology Inc. MU, -0.66% rose slightly after-hours Thursday after the chip maker reported earnings for the third quarter. Micron reported net income of $1.6 billion, or $1.40 per share, after reporting a loss of $215 million, or 21 cents per share during the same period a year ago. Adjusted earnings per share came in at $1.62, above FactSet consensus of $1.52. Revenue for the quarter hit $5.6 billion, up from $2.9 billion in the year earlier and just above FactSet's $5.4 billion consensus. "The global trends taking shape today, including machine learning and big data analytics, are exciting and create significant opportunities for Micron," said Chief Executive Sanjay Mehrotra in a statement. "We are focused on positioning the company to realize these opportunities by investing in technology and products while also strengthening our balance sheet." Shares of Micron Technology have gained nearly 44% in the year to date, while the S&P 500 index SPX, +1.59% is up 8% in the year.