Micron: Fiscal Q1 Earnings Snapshot
BOISE, Idaho (AP) _ Micron Technology Inc. (MU) on Wednesday reported a fiscal first-quarter loss of $195 million, after reporting a profit in the same period a year earlier.
The Boise, Idaho-based company said it had a loss of 18 cents per share. Losses, adjusted for stock option expense and restructuring costs, came to 4 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The chipmaker posted revenue of $4.09 billion in the period, surpassing Street forecasts. Nine analysts surveyed by Zacks expected $4.08 billion.
For the current quarter ending in February, Micron expects its results to range from a loss of 89 cents per share to a loss of 69 cents per share.
The company said it expects revenue in the range of $3.6 billion to $4 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $6.12 billion.