Chipmaker Micron Technology Inc. (NASDAQ: MU) will be reporting earnings for the final three months of fiscal 2023 today after the closing bell, amid expectations for a decline in revenues.
Listen to Micron’s Q4 2023 earnings call live and read the real-time transcript
The company’s bottom line is expected to remain in the negative territory in Q4. Market watchers forecast a loss of $1.11 per share for the August quarter, excluding one-off items, compared to earnings of $1.45 per share in the year-ago quarter. The bearish outlook reflects an estimated 44% fall in revenues to $3.69 billion.
In the third quarter, Micron incurred a third consecutive loss, but it was better than the outcome analysts had predicted. Third-quarter revenues declined a dismal 57% to $3.75 billion but exceeded Wall Street’s expectations. All four operating segments contracted in double digits.
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