Recap: Micron Technology Q3 Earnings
Portfolio Pulse from Benzinga Insights
Micron Technology (NASDAQ:MU) reported Q3 earnings, beating estimated earnings by 9.49% with an EPS of $-1.43 versus an estimate of $-1.58. However, revenue was down $4.89 billion from the same period last year. Last quarter, the company missed on EPS by $1.05, which was followed by a 7.19% increase in the share price the next day.
June 28, 2023 | 8:05 pm
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Micron Technology beat Q3 earnings estimates but reported a significant drop in revenue compared to the same period last year.
While Micron Technology beat earnings estimates, which is generally a positive signal for the stock, the significant drop in revenue compared to the same period last year could be a cause for concern among investors. This mixed result makes it difficult to predict the short-term impact on the stock price.
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