(CercleFinance.com) – Micron Technology announced on Wednesday evening a non-GAAP net loss of $1.57 billion for its third quarter, or $1.43 per share, against EPS of $2.59 a year. year before.
The semiconductor maker suffered a negative adjusted gross margin of -16.1% on revenue that fell 57% year-on-year to $3.75 billion, but said it exceeded the midpoints of its guidance ranges .
“We believe the memory industry is past its revenue trough and expect margins to improve as the balance between supply and demand gradually recovers,” said CEO Sanjay Mehrotra. .
For its last quarter of 2022-23, Micron anticipates a loss per share of $1.19, plus or minus seven cents, a gross margin of -10.5%, plus or minus 2.5 percentage points, and revenues of 3.9 billion, to more or less 200 million.
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