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Aug 29, 2024
Micron Q4 2024 Earnings Report
Micron's Q4 2024 financial results were reported, demonstrating significant year-over-year revenue growth driven by AI demand and record NAND revenue.
Key Takeaways
Micron Technology, Inc. announced strong Q4 fiscal 2024 results, with a 93% year-over-year revenue increase. The company achieved record data center revenue and NAND revenue, driven by robust AI demand and data center SSD sales exceeding $1 billion. Micron is entering fiscal 2025 with a positive outlook, forecasting record revenue in Q1 and significantly improved profitability throughout the year.
Revenue reached $7.75 billion, compared to $4.01 billion in the same period last year.
GAAP net income was $887 million, or $0.79 per diluted share.
Non-GAAP net income was $1.34 billion, or $1.18 per diluted share.
Operating cash flow was $3.41 billion, a substantial increase from $249 million in the same period last year.
Revenue by Segment
Forward Guidance
Micron provided guidance for the first quarter of fiscal year 2025, projecting revenue of $8.70 billion ± $200 million, a gross margin of 38.5% ± 1.0% (GAAP) or 39.5% ± 1.0% (Non-GAAP), operating expenses of $1.211 billion ± $15 million (GAAP) or $1.085 billion ± $15 million (Non-GAAP), and diluted earnings per share of $1.54 ± $0.08 (GAAP) or $1.74 ± $0.08 (Non-GAAP).
Positive Outlook
- Revenue is expected to be $8.70 billion ± $200 million.
- Gross margin is projected at 38.5% ± 1.0% (GAAP) or 39.5% ± 1.0% (Non-GAAP).
- Operating expenses are estimated to be $1.211 billion ± $15 million (GAAP) or $1.085 billion ± $15 million (Non-GAAP).
- Diluted earnings per share are forecasted at $1.54 ± $0.08 (GAAP).
- Diluted earnings per share are forecasted at $1.74 ± $0.08 (Non-GAAP).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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