BOISE, Idaho (AP) — BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Wednesday reported a loss of $1.23 billion in its fiscal first quarter.
On a per-share basis, the Boise, Idaho-based company said it had a loss of $1.12. Losses, adjusted for one-time gains and costs, came to 95 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 99 cents per share.
The chipmaker posted revenue of $4.73 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $4.66 billion.
For the current quarter ending in February, Micron expects its results to range from a loss of 35 cents per share to a loss of 21 cents per share.
The company said it expects revenue in the range of $5.1 billion to $5.5 billion for the fiscal second quarter.
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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
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