Micron Delivers Q4 Beat, But Guidance Falls Short on Supply Chain Woes

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Micron Delivers Q4 Beat, But Guidance Falls Short on Supply Chain Woes
Credit: © Reuters.

By Yasin Ebrahim

Investing.com - Micron (NASDAQ: MU ) reported Tuesday fourth quarter results that topped expectations, but delivered a gloomy outlook on the fiscal first quarter amid ongoing supply chain issues.

Micron shares lost 4.36% in after-hours trade following the report.

The company guided fiscal Q1 EPS in a range to $2.00 to $2.20 on revenue of $7.45 billion to $7.85 billion, short of consensus estimates for $2.48 on revenue of $8.49 billion.

"Q1 bit shipments will decline modestly in both DRAM and NAND from very strong levels in FQ4," the company warned. "Some PC customers are adjusting their memory and storage purchases due to shortages of non-memory components that are needed to complete PC builds," the company said.

Micron announced earnings per share of $2.42 on revenue of $8.27 billion. Analysts polled by Investing.com anticipated EPS of $2.33 on revenue of $8.22 billion.

The tight chip supply helped boost margins to 47.3% from 34.9% a year earlier.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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