Micron Technology (NAS: MU) reported earnings on March 21. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Feb. 28 (Q2), Micron Technology beat expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue increased slightly. Non-GAAP loss per share dropped. GAAP loss per share dropped.
Margins grew across the board.
Micron Technology notched revenue of $2.08 billion. The 26 analysts polled by S&P Capital IQ hoped for sales of $1.92 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 -$0.19. The 25 earnings estimates compiled by S&P Capital IQ anticipated -$0.19 per share. Non-GAAP EPS were -$0.19 for Q2 against -$0.23 per share for the prior-year quarter. GAAP EPS were -$0.28 for Q2 against -$0.29 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 17.6%, 710 basis points better than the prior-year quarter. Operating margin was -1.1%, 880 basis points better than the prior-year quarter. Net margin was -13.8%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.19 billion. On the bottom line, the average EPS estimate is $0.00.
Next year's average estimate for revenue is $8.47 billion. The average EPS estimate is -$0.39.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,135 members out of 1,263 rating the stock outperform, and 128 members rating it underperform. Among 198 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 181 give Micron Technology a green thumbs-up, and 17 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 $9.22.
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The article Micron Technology Beats on the Top Line originally appeared on Fool.com.
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