Micron's fourth-quarter revenue of $6.64 billion fell 23.1% from a month earlier, while net profit fell 43.2%.

CTOnews.com Sept. 30, Micron Technology announced the fourth quarter and full-year results of fiscal year 2022 ending September 1, 2022.

Meguiar's Q4 operating income in fiscal 2022 was $6.64 billion, compared with $8.64 billion in the previous quarter, down 23.1% from the previous quarter, while net profit in the fourth quarter was $1.492 billion, compared with $2.626 billion in the previous quarter, down 43.2% from the previous quarter, according to the financial report. Gross profit margin for the fourth quarter was 27.6%, and earnings per share was 1.35%.

In fiscal year 2022, Micron's operating income reached US $30.76 billion, while in FY 2021 it was US $27.7 billion, an increase of 11% compared with the same period last year. Net profit in FY2022 was US $8.687 billion, compared with US $5.861 billion in the previous fiscal year, an increase of 48.2%. The gross profit margin for fiscal year 2022 was 23% to 27%, and earnings per share were $0.01 to $0.19.

CTOnews.com has reported that Micron Technology said when it released its results that the future demand for memory chips and the company's operation will face more serious difficulties, and the company will reduce its investment plans.

Sanjay Mehrotra, the company's chief executive, also said Micron had already slashed its capital expenditure, which is now expected to be $8 billion in fiscal 2023, down 30 per cent from the previous year. However, for the second half of fiscal 2023, Micron expects strong revenue growth, and the company predicts a recovery in global demand for memory chips early next year.

Micron was the first semiconductor maker in the industry to warn of a decline in global demand for PC and smartphone chips earlier this year.