Micron Technology announced its fourth quarter and full-year financial results for fiscal 2022 ending September 1, 2022.
According to the financial report, Micron’s Q4 operating income in fiscal year 2022 was US$6.64 billion, compared with US$8.64 billion in the previous quarter, down 23.1% from the previous quarter; net profit in the fourth quarter was US$1.492 billion, compared with US$2.626 billion in the previous quarter, down 43.2% from the previous quarter. . Fourth-quarter gross margin was 27.6% and EPS was 1.35%.
In fiscal 2022, Micron’s operating income reached $30.76 billion, and in fiscal 2021, operating income was $27.7 billion, an increase of 11% year-on-year; net profit in fiscal 2022 was $8.687 billion, compared with $5.861 billion in the previous fiscal year, a year-on-year increase of 48.2%. Gross margin in fiscal 2022 is 23% to 27%, and EPS is $0.01 to $0.19.
Naijatechnews has reported that Micron Technology stated in its financial report that future memory chip demand and company operations will face more serious difficulties, and the company will cut investment plans.
The company’s chief executive, Sanjay Mehrotra, also said that Micron has cut capital expenditures significantly before and now expects capital expenditures in fiscal 2023 to be $8 billion, down from the previous year. 30% . For the second half of fiscal 2023, though, Micron is forecasting strong revenue growth, with the company forecasting a recovery in global memory chip market demand early next year.
Earlier this year, U.S. semiconductor maker Micron Technology Inc. was the first in the industry to warn of a slump in global demand for chips for personal computers and smartphones.
RELATED NEWS
- Google Made Image Search With Google Lens In Chrome Easier
- TikTok LIVE Subscription Service Now Online
- Huawei Ended Partnership with Leica
- Mediatek Unveils Dimensity 930 And Helio G99
- Xiaomi Partner With Leica, First Phone Arrives In July
For more such interesting article like this, app/softwares, games, Gadget Reviews, comparisons, troubleshooting guides, listicles, and tips & tricks related to Windows, Android, iOS, and macOS, follow us on Google News, Facebook, Instagram, Twitter, YouTube, and Pinterest.