Micron’s quarterly revenue for the year will decrease by more than a billion dollars

Micron Technology reported for the second quarter of fiscal year 2020, ending on February 27th.

Micron’s quarterly revenue for the year will decrease by more than $ 1 billion – from $ 5.835 billion to $ 4.797 billion. In the previous quarter, revenue was $ 5.144 billion.

Last quarter operating income was $ 440 million. In the previous quarter, it was equal to $ 518 million, and in the second quarter of fiscal year 2019 – $ 1.957 billion.

Net profit for the year decreased from $ 1.619 billion to $ 405 million. In the previous quarter, this figure was $ 491 million.

“Micron showed solid results in the second quarter and revenue at the upper end of the forecast, despite the unfolding COVID-19 pandemic,” said Micron Technology President and CEO Sanjay Mehrotra as the quarter ended. – I am grateful to our team for the excellent business conduct that we have achieved in this unprecedented situation. Their resilience, coupled with Micron’s technological leadership, a stronger product portfolio and positive report, gives us confidence that we will emerge from this difficult time in a good position to take advantage of the potential for long-term demand for memory and storage. ”