Micron Q3 2020 Earnings Report
Key Takeaways
Micron Technology, Inc. announced results for its third quarter of fiscal 2020, which ended May 28, 2020. The company's exceptional execution drove strong sequential revenue and EPS growth, despite challenges in the macro environment.
Revenue of $5.44 billion versus $4.80 billion for the prior quarter and $4.79 billion for the same period last year
GAAP net income of $803 million, or $0.71 per diluted share
Non-GAAP net income of $941 million, or $0.82 per diluted share
Operating cash flow of $2.02 billion versus $2.00 billion for the prior quarter and $2.71 billion for the same period last year
Micron
Micron
Forward Guidance
Micron’s guidance for the fourth quarter of fiscal 2020 includes revenue between $5.75 billion and $6.25 billion, gross margin of 34.5% ± 1.5%, operating expenses of $900 million ± $25 million, interest expense of $33 million, and diluted earnings per share of $0.88 ± $0.10.