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Micron (MU) reports wider adj. loss for Q1 2024; revenue up 16%

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Chipmaker Micron Technology Inc. (NASDAQ: MU) said its net loss, on an adjusted basis, widened year-over-year in the first quarter of 2024. Revenues were up 16%.

Excluding special items, net loss came in at $0.95 per share in the November quarter, compared to a loss of $0.04 per share in the year-ago quarter. On an unadjusted basis, the net loss was $1.23 billion or $1.12 per share in Q1, vs. a loss of $195 million or $0.18 per share in the same period of 2023.

Total revenues were $4.73 billion in the first three months of the fiscal year, compared to $4.09 billion in the corresponding period of the previous year.

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