Micron Technology, Inc., (NASDAQ: MU) has announced its quarterly earnings report. The DRAM giant reported a wider net loss attributable to shareholders of $224 million, or -$0.23 in earnings per share. Net sales were $2.1 billion, down from about $2.3 billion a year earlier. Thomson Reuters had estimates of -$0.19 EPS on $2.02 billion in sales.
The company’s consolidated gross margin fell to 13% in the quarter from 15% a year ago, due “primarily to declines in gross margins for the company’s NOR Flash products in the wireless market.” Sales of NOR Flash products were approximately 11% of all sales in the quarter.
Cash flows from operations for the second quarter were $574 million, and Micron ended the quarter with cash and short-term investments of $2.1 billion.
Micron closed down $0.03 at $8.71 on trading volume of more than 31 million shares. Without guidance we would treat Micron’s earnings as only partial data until a forecast is given in the conference call.
JON C. OGG
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
