Micron Tech 1Q 2013 Misses Estimates

Micron Technology (NASDAQ: MU  ) announced its 1Q 2013 results today in an official statement. It made $1.8 billion in net revenues, and had a bottom line loss of $275 million ($0.27 per diluted share). Those numbers for the same period last year were $2.1 billion, and $187 million (-$0.19 EPS).

Analysts had been expecting net sales of just over $2 billion and a loss of $0.20 per share for the quarter.

The company said it saw declines in revenues for its NAND and DRAM products, which fell 4% and 9%, respectively, over the previous quarter.

Micron Technology's shares were down approximately 3% in after-hours trading following the release of the results.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2165207, ~/Articles/ArticleHandler.aspx, 8/23/2014 5:34:12 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement