Micron Technology Non-GAAP EPS of -$1.91 misses by $1.03, revenue of $3.69B misses by $20M
Micron Technology press release (NASDAQ:MU): Q2 Non-GAAP EPS of -$1.91  misses by $1.03.
Revenue of $3.69B (-52.6% Y/Y)  misses by $20M.
Inventory write-downs of $1.43 billion, impact of $1.34 per diluted share.
Operating cash flow of $343 million versus $943 million for the prior quarter and $3.63 billion for the same period last year.

âMicron delivered fiscal second quarter revenue within our guidance range in a challenging market environment,â said Micron Technology President and CEO Sanjay Mehrotra.
âCustomer inventories are getting better, and we expect gradual improvements to the industryâs supply-demand balance. We remain confident in long-term demand and are investing prudently to preserve our technology and product portfolio competitiveness."

Non GAAP Q3 Outlook: Revenue $3.70 billion Â± $200 million vs. consensus of $3.75B, Gross margin (21%) Â± 2.5%, EPS ($1.58) Â± $0.07 vs. consensus of -$0.92.