Micron Q2 2024 Earnings Report
Key Takeaways
Micron Technology, Inc. reported strong Q2 2024 results, with revenue, gross margin, and EPS exceeding the high end of guidance. Revenue reached $5.82 billion, with a GAAP net income of $793 million, or $0.71 per diluted share.
Revenue of $5.82 billion versus $4.73 billion for the prior quarter and $3.69 billion for the same period last year
GAAP net income of $793 million, or $0.71 per diluted share
Non-GAAP net income of $476 million, or $0.42 per diluted share
Operating cash flow of $1.22 billion versus $1.40 billion for the prior quarter and $343 million for the same period last year
Micron
Micron
Forward Guidance
Micron's guidance for the third quarter of 2024 includes revenue of $6.60 billion ± $200 million, a GAAP gross margin of 25.5% ± 1.5%, and a diluted earnings per share of $0.17 ± $0.07.
Positive Outlook
- Revenue: $6.60 billion ± $200 million
- Gross margin: 26.5% ± 1.5%
- Operating expenses: $990 million ± $15 million
- Diluted earnings per share: $0.45 ± $0.07
Challenges Ahead
- Operating expenses: $1.11 billion ± $15 million
- Diluted earnings per share: $0.17 ± $0.07