Micron Technology Beats Estimates, Guidance Disappoints
Micron Technology, Inc. (Nasdaq: MU), a renowned semiconductor company, reported a loss of $(1.07) per share for the fourth quarter of fiscal 2023, better than the consensus estimate loss of $(1.18). The company's quarterly revenues reached $4.01 billion, slightly exceeding analysts' projected revenue of $3.91 billion.
However, looking ahead to the first quarter of fiscal 2024, Micron anticipates an adjusted loss per share in the range of $(1.14) to $(1.00), which contrasts with the consensus estimate of a loss of $(0.90) per share for the period.
$MU was trading at $65.59 in after-hours, down $2.62 (-3.84%).
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