Micron Q3 loss hits US$301 mln

Micron released the earnings after the closing of US stocks and announced that by the end of May, it recorded net loss of US$301 mln, which can be attributed to the stockpile provision of US$260 mln and the pause of PC business. Per share loss was 50 US cents, far higher than the market expectation of 15 US cents. 

The turnover plunged 47% to US$818 mln. These figures form sharp contrast over the net profit of US$274.8 mln and per share earnings of 47 US cents in the same period last year.

The company said that it would endeavor to reduce stockpile and estimated that the loss in the first three quarters would hit US$47 mln and per share diluted loss stand at 0.08 US cent.

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