Micron reports Q3 GAAP loss of $1.90B; guides Q4 revenue $3.9B, EPS loss $1.19 non-GAAP

MICRON TECHNOLOGY INC

2023-Q3 EPS reported -$4.03 revenue$11,530,000,000

Revenue $3.75B, up from $3.69B QoQ but down from $8.64B YoY; GAAP net loss $1.90B ($1.73 loss per share).
Non-GAAP net loss $1.57B ($1.43 loss per share); operating cash flow plunged to $24M from $343M prior quarter.
Guidance: Q4 revenue ~$3.9B ±$200M; GAAP EPS loss ~$1.34, non-GAAP EPS loss ~$1.19.
Further reducing wafer starts to approach 30% in both DRAM and NAND; cites China CAC decision as headwind.
Dividend declared $0.115 per share, payable July 25 to holders of record July 10.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MICRON TECHNOLOGY INC reported third quarter of fiscal 2023 ended June 1, 2023 results: revenue $3.75 billion, net income $1.90 billion, EPS $1.73 per diluted share. Guidance initiated.

Period: third quarter of fiscal 2023 ended June 1, 2023
Revenue: $3.75 billion
Net income: $1.90 billion
EPS: $1.73 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Micron Technology, Inc. (Nasdaq: MU) today announced results for its third quarter of fiscal 2023, which ended June 1, 2023. Fiscal Q3 2023 highlights • Revenue of $3.75 billion versus $3.69 billion for the prior quarter and $8.64 billion for the same period last year • GAAP net loss of $1.90 billion, or $1.73 per diluted share • Non-GAAP net loss of $1.57 billion, or $1.43 per diluted share • Operating cash flow of $24 million versus $343 million for the prior quarter and $3.84 billion for the same period last year

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Source: SEC EDGAR

accession 0000723125-23-000038

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