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Micron Technology Inc. (NASDAQ: MU) posted a loss in the second quarter of 2023 from last year’s profit, hurt by a sharp drop in profits.
The chip maker reported a loss of $1.91 per share for the February quarter, on an adjusted basis, marking a decline from the year-ago period when it earned $2.14 per share. On an unadjusted basis, the second quarter’s net loss was $2.31 billion or $2.12 per share, compared to net income of $2.26 billion or $2.00 per share in the year-ago quarter.
The weak underlying performance reflected a 53% drop in net profit to $3.69 billion. All major operating segments are contracted for three months.
Previous Performance
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