Micron Technology, Inc will report its fiscal third quarter financial results after the market close on June 28, 2023, with the memory-chip maker expected to realize a loss of $1.71 per share as compared with a per-share profit of $2.59 during the same period last year.
The consensus revenue forecast for 3Q is $3.67 billion, down from $8.64 billion a year earlier.
Shares of Micron eased 0.3% to $66.60 in early afternoon trading on Wednesday ahead of the results.
In the previous quarter, Micron missed the analysts' consensus estimate of a $0.75 per-share loss with a reported loss of $1.91 per share, while also falling short of the $3.74 revenue forecast with sales of $3.69 billion.
Micron warned Friday that about half of its China customer revenue could be impacted by a partial ban on the US chip maker selling to some Chinese companies.
Shares of Micron Technology have gained more than 34% year to date.
Contact Sean at sean@proactiveinvestors.com