Micron: makes loss in Q2
(CercleFinance.com) - On Tuesday evening Micron Technology reported an adjusted net loss of $1.
91 per share for Q2, down from EPS of $2.14 a year ago, with an adjusted operating margin that fell into the red to
-56.2%, vs. 35.3% a year ago.
The semiconductor maker reported revenue of $3.69bn, which was down 53% year-on-year, although within its guidance range in a challenging market environment.
Customer inventories are improving and the group expects a gradual improvement in the industry's supply-demand balance. It remains confident regarding long-term demand and is investing prudently to maintain competitiveness, the company added.
For the current quarter, Micron said it expects an adjusted net loss of $1.51-1.65 per share, on anticipated revenues of $3.5-3.9 bn.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
91 per share for Q2, down from EPS of $2.14 a year ago, with an adjusted operating margin that fell into the red to
-56.2%, vs. 35.3% a year ago.
The semiconductor maker reported revenue of $3.69bn, which was down 53% year-on-year, although within its guidance range in a challenging market environment.
Customer inventories are improving and the group expects a gradual improvement in the industry's supply-demand balance. It remains confident regarding long-term demand and is investing prudently to maintain competitiveness, the company added.
For the current quarter, Micron said it expects an adjusted net loss of $1.51-1.65 per share, on anticipated revenues of $3.5-3.9 bn.
Copyright (c) 2023 CercleFinance.com. All rights reserved.