Markets
MU

Micron Technology (MU) Stock Falling on Q1 Revenue Miss

Micron Technology Inc (MU) just released their first quarter fiscal 2016 earnings results, posting an earnings beat of $0.01 and a revenue miss of -$.171 billion.

Currently, Micron Technology has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company's latest earnings report. Here are 5 key statistics from this just announced report below.

Micron Technology:

  1. Beat earnings estimates. The company posted $0.24, beating our Zacks Consensus Estimate of $0.23.
  2. Missed revenue estimates. The company saw revenue figures of $3.35 billion, missing our estimate of $3.521 billion.
  3. Net Income fell to $206 million.
  4. Up to Tuesday's close, Micron's shares had fallen about 58% this year.
  5. MU was down $0.61, or 4.18%, to $14.00 as of 4:45 PM ET in after hours trading shortly after its earnings report was released.

Here's a graph that looks at Micron's actual EPS reported and what was estimated:

Micron Technology Inc. (MU) EPS BNRI & Surprise Percent - Last 5 Quarters | FindTheCompany

Micron Technology is one of the leading worldwide providers of semiconductor memory solutions. The company's quality memory solutions serve customers in a variety of industries including computer and computer-peripheral manufacturing, consumer electronics, CAD/CAM, telecommunications, office automation, network and data processing, and graphics display. Micron Technology was founded in 1978 and is headquartered in Boise, Idaho.

Check back later for our full analysis on Micron Technology's first quarter earnings report!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

MICRON TECH (MU): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MU

Other Topics

Stocks

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More