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Jun 03, 2021
Micron Q3 2021 Earnings Report
Micron's Q3 2021 results were reported with strong execution driving robust free cash flow.
Key Takeaways
Micron Technology, Inc. reported strong Q3 2021 results, with revenue of $7.42 billion, GAAP net income of $1.74 billion, and non-GAAP net income of $2.17 billion. The company achieved multiple market and product revenue records and the largest sequential earnings improvement in its history.
Micron set multiple market and product revenue records in Q3 2021.
The company achieved the largest sequential earnings improvement in its history.
Industry-leading 1α DRAM and 176-layer NAND now represent a meaningful portion of Micron's production.
Micron is well-positioned to capitalize on long-term demand trends across data center, intelligent edge, and user devices.
Forward Guidance
For the fourth quarter of 2021, Micron expects revenue of $8.2 billion ± $200 million, gross margin of 46.0% ± 1%, operating expenses of $955 million ± $25 million, and diluted earnings per share of $2.23 ± $0.10 (GAAP).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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