Micron Q2 2021 Earnings Report
Key Takeaways
Micron Technology, Inc. reported strong fiscal second quarter performance with revenue of $6.24 billion, GAAP net income of $603 million, and non-GAAP net income of $1.13 billion, driven by rapidly improving market conditions and solid execution.
Revenue of $6.24 billion versus $5.77 billion for the prior quarter and $4.80 billion for the same period last year
GAAP net income of $603 million, or $0.53 per diluted share
Non-GAAP net income of $1.13 billion, or $0.98 per diluted share
Operating cash flow of $3.06 billion versus $1.97 billion for the prior quarter and $2.00 billion for the same period last year
Micron
Micron
Forward Guidance
Micron's guidance for the third quarter of 2021 includes revenue of $7.1 billion ± $200 million, gross margin of 40.5% ± 1%, and diluted earnings per share of $1.52 ± $0.07.
Positive Outlook
- Revenue: $7.1 billion ± $200 million
- Gross margin: 40.5% ± 1%
- Operating expenses: $930 million ± $25 million
- Interest (income) expense, net: $27 million
- Diluted earnings per share: $1.52 ± $0.07