Micron Posts Third Straight Loss on Weak Memory-Chip Prices
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Micron Technology Inc., the largest U.S. maker of computer memory, reported a third consecutive quarterly loss after sluggish demand for personal computers dragged down chip prices.
The second-quarter net loss was $224 million, or 23 cents a share, compared with a profit of $72 million, or 7 cents, a year earlier, the Boise, Idaho-based company said today. Sales were $2.07 billion in the period, which ended March 1. Analysts had predicted a loss of 19 cents and revenue of $2.01 billion on average, according to data compiled by Bloomberg.