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Business | March 21, 2019
Micron reflects on challenging market environment in 2Q
The Boise Idaho memory manufacturer recorded revenues of USD 5.84 billion during its second quarter 2019, down quite significantly from USD 7.35 for the same period last year.
GAAP net income for the second quarter amounted to USD 1.62 billion, down from USD 3.3 billion during 2Q18. Operating cash flow was USD 3.44 billion versus USD 4.35 billion for the same period last year
"Micron continues to execute well across a range of product, operational and financial initiatives against the backdrop of a challenging market environment," says Micron Technology President and CEO Sanjay Mehrotra, in a press release. "These initiatives and our focus on high-value solutions, cost competitiveness and innovation will enable us to emerge even stronger as the market environment improves."
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