Micron Technology reports Q2 fiscal 2023 revenue of $3.69B, GAAP net loss of $2.31B

MICRON TECHNOLOGY INC

2023-Q2 EPS reported -$2.30 revenue$7,778,000,000

Revenue fell to $3.69B from $4.09B in prior quarter and $7.79B a year ago.
GAAP net loss was $2.31B ($2.12 per diluted share); non-GAAP net loss $2.08B ($1.91).
Inventory write-downs totaled $1.43B, impacting EPS by $1.34 per diluted share.
Operating cash flow was $343M, down from $943M in the prior quarter and $3.63B a year ago.
CEO noted customer inventories improving; Q3 guidance expects revenue ~$3.7B and further write-downs.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MICRON TECHNOLOGY INC reported second quarter of fiscal 2023 ended March 2, 2023 results: revenue $3.69 billion, net income ($2.31) billion, EPS $(2.12) per diluted share. Guidance initiated.

Period: second quarter of fiscal 2023 ended March 2, 2023
Revenue: $3.69 billion
Net income: ($2.31) billion
EPS: $(2.12) per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Revenue of $3.69 billion versus $4.09 billion for the prior quarter and $7.79 billion for the same period last year • GAAP net loss of $2.31 billion, or $2.12 per diluted share

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Source: SEC EDGAR

accession 0000723125-23-000018

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