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Micron Posts 4th Straight Loss as Memory-Chip Prices Fall
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Micron Technology Inc., the largest U.S. maker of computer memory, reported a fourth consecutive quarterly loss after prices fell for chips used to store data in phones and tablets, crimping sales.
The net loss was $320 million, or 32 cents a share, for the third quarter ended May 31, compared with profit of $75 million, or 7 cents, a year earlier, the Boise, Idaho-based company said yesterday in a statement. Sales rose 1.5 percent to $2.17 billion. Analysts projected a loss of 20 cents on revenue of $1.99 billion, the average of estimates compiled by Bloomberg.