Micron Technology Non-GAAP EPS of -$0.04 misses by $0.02, revenue of $4.09B misses by $50M
Micron Technology press release (NASDAQ:MU): Q1 Non-GAAP EPS of -$0.04  misses by $0.02.
Revenue of $4.09B (-46.8% Y/Y)  misses by $50M.
Operating cash flow of $943 million versus $3.78 billion for the prior quarter and $3.94 billion for the same period last year.
âMicronâs strong technology, manufacturing and financial position put us on solid footing to navigate the near-term environment, and we are taking decisive actions to cut our supply and expenses. We expect improving customer inventories to enable higher revenue in the fiscal second half, and to deliver strong profitability once we get past this downturn,â said Micron Technology President and CEO Sanjay Mehrotra.
Micron repurchased approximately 8.6 million shares of its common stock for $425 million during the first quarter of 2023 and ended the quarter with cash, marketable investments, and restricted cash of $12.08 billion, for a net cash position of $1.81 billion.
Micronâs Board of Directors has declared a quarterly dividend of $0.115 per share, payable in cash on January 19, 2023, to shareholders of record as of the close of business on January 3, 2023.

Non GAAP Q2 Outlook: Revenue $3.80 billion Â± $200 million vs. consensus of $3.84B, Gross margin 8.5% Â± 2.5%, EPS ($0.62) Â± $0.10 vs. consensus of -$0.32.
Shares -1.15%.