Micron Technology Fiscal Q1 Tops Estimates

Micron Technology (MU) reported a fiscal Q1 non-GAAP diluted loss late Wednesday of $0.95 per share, compared with a loss of $0.04 a year earlier.

Analysts polled by Capital IQ expected a loss of $1.01 normalized.

Revenue for the quarter that ended Nov. 30 was $4.73 billion, up from $4.09 billion a year earlier.

Analysts surveyed by Capital IQ expected $4.63 billion.

The company said it expects a fiscal Q2 non-GAAP loss of $0.28 plus/minus $0.07. Analysts expect a loss of $0.61 normalized.

Micron expects revenue of $5.30 billion-plus/minus $200 million for the quarter. Analysts expect $5.05 billion.

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