Micron Posts Wider Fourth-Quarter Loss on Memory-Chip Slump
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Micron Technology Inc., the largest U.S. maker of memory chips, reported a wider fourth-quarter loss and lower revenue as lackluster demand for personal computers reduced sales of components.
The net loss for the period that ended Aug. 30 was $243 million, or 24 cents a share, compared with a loss of $135 million, or 14 cents, a year earlier, the Boise, Idaho-based company said today in a filing. Revenue fell 8.3 percent to $1.96 billion. Analysts on average estimated a loss of 23 cents on sales of $2.11 billion, based on data compiled by Bloomberg.