By Will Feuer

Micron Technology expects revenue for its fiscal first quarter to come in better than it initially forecast, but the memory-chip maker also warned its operating costs will be higher.

The company is now forecasting revenue of about $4.7 billion for the fiscal quarter, which ends Nov. 30. That is up from the company's previous revenue guidance of $4.2 billion to $4.6 billion.

Micron said the quarter benefited from a better balance of supply and demand that led to a better pricing environment.

At the same time, Micron is now forecasting quarterly operating expenses of about $1.1 billion, up from its prior forecast of about $1.01 billion.

The company is targeting an adjusted loss of about $1 a share, compared with a prior forecast of $1 a share to $1.14 a share.

Write to Will Feuer at

(END) Dow Jones Newswires

11-28-23 0944ET