Micron Reports Larger Than Expected Loss

Boise, Idaho-based chip company Micron Technology

released its third-quarter earnings results on Wednesday after the closing bell. The company reported a net loss attributable to shareholders of $320 million or $0.32 per share, versus net income of $75 million or $0.07 per share, in the year ago quarter. This compared to Wall Street analysts' consensus EPS estimates of a loss of $0.20. Net sales in the period were $2.2 billion compared to $2.1 billion last year. This came in ahead of Wall Street consensus revenue estimates of $2.00 billion. In Wednesday's after hours trading session, MU shares have lost 0.33% to $6.10.