BOISE, Idaho (AP) — BOISE, Idaho (AP) — Micron Technology Inc. (MU) on Wednesday reported a loss of $1.43 billion in its fiscal fourth quarter.
On a per-share basis, the Boise, Idaho-based company said it had a loss of $1.31. Losses, adjusted for one-time gains and costs, came to $1.07 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $1.18 per share.
The chipmaker posted revenue of $4.01 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $3.91 billion.
For the year, the company reported a loss of $5.83 billion, or $5.34 per share. Revenue was reported as $15.54 billion.
For the current quarter ending in November, Micron expects its results to range from a loss of $1.14 per share to a loss of $1 per share.
The company said it expects revenue in the range of $4.2 billion to $4.6 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $6.12 billion.
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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