Earnings Season| MU terrible 2Q on worst downturn in the last 13 years

DividendWave
2023-03-29

$Micron Technology(MU)$ MU terrible (expected) 2Q
Revenue -53% ( $3.7 B ; above mid point guidance)
Net income/EPS negative

MU 2Q GAAP and Non-GAAP
3Q
Revenue $3.7 B mid point (-57% YoY at mid-point )"The semiconductor memory and storage industry is facing its worst downturn in the last 13 years"MU with a lot of measures to cut cost
Capex reduction (-40% YoY)
Executive pay cut
HC reduction 15%

but dividend is maintained
"Micron’s Board of Directors has declared a quarterly dividend of $0.115 per share, payable in cash on April 25, 2023"https://twitter.com/DividendWave/status/1640813320759398432

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