Micron Technology (Nasdaq: MU) reported earnings on Dec. 21. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 1 (Q1), Micron Technology missed slightly on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped, and earnings per share dropped to a loss.

Margins shrank across the board.

Revenue details
Micron Technology reported revenue of $2.1 billion. The analyst polled by S&P Capital IQ anticipated sales of $2.1 billion. Sales were 7.2% lower than the prior-year quarter's $2.3 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
EPS came in at -$0.19. The 23 earnings estimates compiled by S&P Capital IQ predicted -$0.11 per share. GAAP EPS were -$0.19 for Q1 against $0.15 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 14.6%, 870 basis points worse than the prior-year quarter. Operating margin was -3.3%, 2,090 basis points worse than the prior-year quarter. Net margin was -8.9%, 1,580 basis points worse than the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods.

Looking ahead
What does the future hold?

Next quarter's average estimate for revenue is $2 billion. On the bottom line, the average EPS estimate is -$0.20.

Next year's average estimate for revenue is $8.5 billion. The average EPS estimate is -$0.41.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,201 members out of 1,317 rating the stock outperform, and 116 members rating it underperform. Among 235 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 214 give Micron Technology a green thumbs-up, and 21 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Micron Technology is outperform, with an average price target of $8.94.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.