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Micron: Fiscal Q2 Earnings Snapshot
The Associated Press//March 30, 2023
BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Tuesday reported a loss of $2.31 billion in its fiscal second quarter.
The Boise, Idaho-based company said it had a loss of $2.12 per share. Losses, adjusted for stock option expense and restructuring costs, were $1.91 per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 66 cents per share.
The chipmaker posted revenue of $3.69 billion in the period, also falling short of Street forecasts. Nine analysts surveyed by Zacks expected $3.74 billion.
For the current quarter ending in May, Micron expects its results to range from a loss of $1.86 per share to a loss of $1.72 per share.
The company said it expects revenue in the range of $3.5 billion to $3.9 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $6.12 billion.
