Memory chip maker Micron Technology (MU) this afternoon reported fiscal Q2 revenue ahead of consensus but also reported a larger than expected net loss per share.
Revenue in the three months ended in February fell roughly 9% to $2.07 billion, yielding a net loss of 23 cents a share.
DRAM and NAND sales rose from Q1′s level thanks to a 20% rise in sales volume of each, offset by price declines.
Micron’s gross margin in the quarter fell from 15% to 13%, mostly caused by lower profitability in the company’s NOR flash memory chips for wireless devices.
Analysts on average had been modeling $2.02 billion and a 19-cent loss.
Micron shares are down 7 cents, or 0.8%, at $8.64.
Micron management will host a conference call with analysts at 4:30 pm, Eastern time, and you can catch the webcast of it here.
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