September 26, 2019 / 8:12 PM / 18 days ago

Chipmaker Micron posts 42% drop in quarterly revenue

Sept 26 (Reuters) - Micron Technology Inc reported a 42.3% fall in fourth-quarter revenue on Thursday, as demand for its memory chips used in smartphones and laptops continued to come under pressure from the prolonged U.S.-China trade war.

Net income attributable to the company fell to $561 million, or 49 cents per share, in the quarter ended Aug. 29, from $4.33 billion, or $3.56 per share, a year earlier.

Revenue fell to $4.87 billion from $8.44 billion. (Reporting by Neha Malara in Bengaluru; Editing by Arun Koyyur)

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