Memory chipmaker Micron Technology Inc. (NASDAQ: MU) will be publishing second-quarter 2024 results today after regular trading hours, amid expectations for a sharp increase in revenues.
Listen to Micron’s Q2 2024 earnings call live and read the real-time transcript
Experts’ consensus estimates indicate that the company incurred an adjusted loss of $0.25 per share in the February quarter, which is sharply narrower than the $1.91/share loss it reported for the prior year period. Meanwhile, Micron executives are looking for a loss of approximately $0.28 per share. The bottom-line forecast reflects an estimated 45% increase in Q2 revenues to $5.34 billion, which is above the company’s guidance of $5.30 billion.
For the first quarter, the company reported a net loss of $0.95 per share, excluding special items, compared to a loss of $0.04 per share in the year-ago quarter. On an unadjusted basis, the net loss was $1.23 billion or $1.12 per share in Q1, vs. a loss of $195 million or $0.18 per share in the same period of 2023.