Micron: Fiscal Q4 Earnings Snapshot

September 29, 2022 GMT

BOISE, Idaho (AP) _ Micron Technology Inc. (MU) on Thursday reported fiscal fourth-quarter earnings of $1.49 billion.

On a per-share basis, the Boise, Idaho-based company said it had net income of $1.35. Earnings, adjusted for one-time gains and costs, came to $1.45 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.

The chipmaker posted revenue of $6.64 billion in the period, which fell short of Street forecasts. Nine analysts surveyed by Zacks expected $6.92 billion.

For the year, the company reported profit of $8.69 billion, or $7.75 per share. Revenue was reported as $30.76 billion.

For the current quarter ending in November, Micron expects its results to range from a loss of 6 cents per share to earnings of 14 cents per share.

The company said it expects revenue in the range of $4 billion to $4.5 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $6.12 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MU at https://www.zacks.com/ap/MU