Micron Technology Profit Drops 79% In Q1

(RTTNews) - Micron Technology (MU) announced earnings for first quarter that dropped compared to the same period last year.

The company said its profit declined to $0.21 billion, or $0.19 per share. This was down from $1.00 billion, or $0.84 per share, in last year's first quarter.

The company said revenue for the quarter fell 26.7% to $3.35 billion. This was down from $4.57 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q1): $0.21 Bln. vs. $1.00 Bln. last year. -Earnings Decline (Y-o-Y): -79.0% -EPS (Q1): $0.19 vs. $0.84 last year. -EPS Decline (Y-o-Y): -77.4% -Revenue (Q1): $3.35 Bln vs. $4.57 Bln last year. -Revenue Change (Y-o-Y): -26.7%