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Schaeffer's Street Stories: Micron Technology Inc. Soars Despite Weaker-Than-Expected Earnings


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Published in Science and Technology on Wednesday, December 24th 2008 at 9:52 GMT, Last Modified on 2008-12-24 09:52:24 by Market Wire   Print publication without navigation


CINCINNATI--([ BUSINESS WIRE ])--Micron Technology Inc. (NYSE: MU) stepped into the earnings spotlight after the close on Tuesday to reveal a wider quarterly loss than Wall Street had anticipated. Excluding certain items, Micron lost $560 million, or 72 cents per share, compared with the Street estimate for a loss of 43 cents per share. Revenue fell 8.7% to $1.402 billion, but it was better than the average analyst estimate of $1.33 billion.

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