Micron Technology Shares Fall As Q1 Revenue Miss View; Sees Loss In Q2

(RTTNews) - Shares of Micron Technology Inc. (MU) fell almost 6 percent in extended trades after the chip maker reported revenues for the first quarter below analysts' expectations. The company also forecast a surprise loss for the second quarter and projected revenues below estimates.

For the second quarter, Micron forecast a loss of $0.05 to $0.12 per share and net sales of $2.9 billion to $3.2 billion. On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.22 per share for the second quarter on revenues of $3.46 billion. Analysts estimates typically exclude special items.