Date: 02/07/2023

Micron Technology reported a revenue of $3.75 billion for its Fiscal Q3 2023

Micron Technology reported a revenue of $3.75 billion for its Fiscal Q3 2023 compared to its $3.69 billion for the prior quarter of Q2 2023 and $8.64 billion for the same period last year of Q3 2022.

“Micron delivered fiscal third quarter revenue, gross margin, and EPS all above the midpoint of the guidance range,” said Micron Technology President and CEO Sanjay Mehrotra. “We believe that the memory industry has passed its trough in revenue, and we expect margins to improve as industry supply-demand balance is gradually restored. The recent Cyberspace Administration of China (“CAC”) decision is a significant headwind that is impacting our outlook and slowing our recovery. Longer-term, Micron’s technology leadership, product portfolio, and operational excellence continues to strengthen our competitive positioning across diverse growth markets, including AI and memory-centric computing.”

Micron’s guidance for the fourth quarter of 2023 is revenue of $3.90 billion ± $200 million.

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