Categories AlphaGraphs, Earnings, Technology
MU Earnings: Micron’s Q4 profit declines but beats estimates
Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection.
On an adjusted basis, fourth-quarter profit dropped to $1.45per share from $2.42 per share a year ago. Unadjusted net income was $1.50 billion or $1.35 per share, compared to $2.72 billion or $2.39 per share in the fourth quarter of 2021.
The bottom line was negatively impacted by a 20% fall in revenues to $6.64 billion. Revenues also missed expectations.
Check this space to read management/analysts’ comments on Micron’s Q4 earnings
“We are taking decisive steps to reduce our supply growth including a nearly 50% wafer fab equipment capex cut versus last year, and we expect to emerge from this downcycle well positioned to capitalize on the long-term demand for memory and storage,” said Micron’s CEO Sanjay Mehrotra.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
CPB Earnings: Key quarterly highlights from Campbell Soup’s Q3 2023 financial results
Campbell Soup Company (NYSE: CPB) reported its third quarter 2023 earnings results today. Net sales increased 5% year-over-year to $2.23 billion. Organic sales also rose 5%. Net earnings attributable to
Key takeaways from J.M. Smucker’s (SJM) Q4 2023 earnings report
Shares of the J.M. Smucker Co. (NYSE: SJM) were down over 2% on Tuesday despite the company beating expectations on its earnings results for the fourth quarter of 2023. The
Oracle (ORCL) looks set to report strong Q4 results next week
After a period of lackluster performance, Oracle Corporation (NYSE: ORCL) got a much-needed boost as the software giant expanded its cloud business aggressively in recent years. The company has outperformed