Micron quarterly revenue misses expectations


Micron Technology posted fiscal first-quarter revenue of $1.83 billion, down from $2.09 billion in the year-ago period as it sold fewer memory chips in a slow PC market.

Analysts had expected revenue of $2.005 billion for the quarter ended in November, according to Thomson Reuters I/B/E/S.

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The company posted a net loss of $275 million, or 27 cents a share, compared to a net loss of $187 million, or 19 cents, in the year-ago quarter.

Shares of Micron were down 3.38 percent in extended trade after closing down 0.44 percent at $6.79.

(Reporting By Noel Randewich)