Micron Technology (MU) Revenue — Quarter Ended Jun 1, 2023
Revenue for the quarter increased slightly compared to the immediately preceding quarter, marking a modest sequential improvement. However, revenue remained substantially lower than the same quarter one year earlier, reflecting a continued year-over-year decline.
Key takeaway
Quarter ended Jun 1, 2023 · FY2023 Q3
Revenue for the quarter increased slightly compared to the immediately preceding quarter, marking a modest sequential improvement. However, revenue remained substantially lower than the same quarter one year earlier, reflecting a continued year-over-year decline.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.8B
Revenue reported for this quarter.
Quarter-over-quarter
+1.6%
Change from the immediately preceding quarter.
Year-over-year
-56.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$18.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 1, 2022 | $6.6B | -19.7% |
| Dec 1, 2022 | $4.1B | -46.9% |
| Mar 2, 2023 | $3.7B | -52.6% |
| Jun 1, 2023 | $3.8B | -56.6% |
Revenue performance
The reported revenue direction was upward on a sequential basis, reversing the prior quarter's decline.
Quarterly comparison
Compared with the immediately preceding quarter, revenue increased. Compared with the same quarter one year earlier, revenue decreased significantly.
What to watch
The year-over-year revenue decline remains steep despite the sequential uptick, warranting attention to demand trends.