Micron Q2 2020 Earnings Report
Key Takeaways
Micron delivered solid second quarter results and revenue at the high end of the guidance range, despite the unfolding COVID-19 pandemic. Revenue was $4.80 billion, GAAP net income was $405 million, or $0.36 per diluted share, and non-GAAP net income was $517 million, or $0.45 per diluted share.
Revenue of $4.80 billion versus $5.14 billion for the prior quarter and $5.84 billion for the same period last year
GAAP net income of $405 million, or $0.36 per diluted share
Non-GAAP net income of $517 million, or $0.45 per diluted share
Operating cash flow of $2.00 billion versus $2.01 billion for the prior quarter and $3.44 billion for the same period last year
Micron
Micron
Forward Guidance
Micron's guidance for the third quarter of fiscal 2020 includes revenue of $4.6 billion - $5.2 billion, gross margin of 30% ± 1.5%, operating expenses of $891 million ± $25 million, interest (income) expense, net of $38 million, and diluted earnings per share of $0.41 ± $0.15.