Micron Technology (NAS: MU) reported earnings on June 20. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended May 31 (Q3), Micron Technology beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Micron Technology booked revenue of $2.17 billion. The 27 analysts polled by S&P Capital IQ expected to see a top line of $2.00 billion on the same basis. GAAP reported sales were 1.5% higher than the prior-year quarter's $2.14 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.32. The 27 earnings estimates compiled by S&P Capital IQ predicted -$0.19 per share. GAAP EPS were -$0.32 for Q3 compared to $0.07 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 10.8%, 1,150 basis points worse than the prior-year quarter. Operating margin was -8.6%, 1,620 basis points worse than the prior-year quarter. Net margin was -14.7%, 1,820 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.14 billion. On the bottom line, the average EPS estimate is -$0.20.
Next year's average estimate for revenue is $8.42 billion. The average EPS estimate is -$0.97.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,161 members out of 1,300 rating the stock outperform, and 139 members rating it underperform. Among 206 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 176 give Micron Technology a green thumbs-up, and 30 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Micron Technology is outperform, with an average price target of $10.45.
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The article Micron Technology Beats on the Top Line originally appeared on Fool.com.
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