Micron: Fiscal Q2 Earnings Snapshot

BOISE, Idaho (AP) — 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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MU at https://www.zacks.com/ap/MU