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Feb 27, 2020
Micron Q2 2020 Earnings Report
Micron demonstrated profitability and achieved its 13th consecutive quarter of free cash flow.
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
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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