Micron Technology, Inc. (MU), a manufacturer of innovative memory and storage solutions, reported fiscal 2023 third-quarter revenue of 5.69 billion, surpassing the analysts’ estimate of $3.68 billion, but down 100.6% year-over-year. Further, the company missed the consensus revenue estimates in three of the trailing four quarters, which is disappointing.
MU incurred a third consecutive loss during the quarter, but it was better than the analysts’ expectations. The company posted a quarterly non-GAAP net loss of $1.43 per share, compared to the consensus estimate of $1.53 per share.
