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Dec 02, 2021
Micron Q1 2022 Earnings Report
Micron delivered solid fiscal first quarter results led by strong product portfolio momentum.
Key Takeaways
Micron Technology, Inc. announced results for its first quarter of fiscal 2022, with revenue of $7.69 billion and GAAP net income of $2.31 billion, or $2.04 per diluted share.
Revenue of $7.69 billion versus $8.27 billion for the prior quarter and $5.77 billion for the same period last year
GAAP net income of $2.31 billion, or $2.04 per diluted share
Non-GAAP net income of $2.47 billion, or $2.16 per diluted share
Operating cash flow of $3.94 billion versus $3.88 billion for the prior quarter and $1.97 billion for the same period last year
Forward Guidance
Micron’s guidance for the second quarter of 2022 includes revenue of $7.5 billion ± $200 million, gross margin of 45.0% ± 1%, operating expenses of $1,058 million ± $25 million, and diluted earnings per share of $1.83 ± $0.10.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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