Micron beats Q2 guidance, returns to profitability; revenue $5.82B, EPS $0.71 GAAP

MICRON TECHNOLOGY INC

2024-Q2 EPS reported -$0.40 revenue$10,550,000,000

Revenue $5.82B, above guidance high-end; GAAP net income $793M ($0.71 EPS) vs prior Q loss.
Non-GAAP EPS $0.42; prior Q loss $0.95; gross margin 18.5% GAAP, 20% non-GAAP vs negative prior Q.
Operating cash flow $1.22B; cash & investments $9.72B; quarterly dividend $0.115/share unchanged.
Guidance Q3: revenue $6.6B±200M, GAAP EPS $0.17±0.07, non-GAAP EPS $0.45±0.07.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MICRON TECHNOLOGY INC reported second quarter of fiscal 2024 ended February 29, 2024 results: revenue $5.82 billion, net income $793 million, EPS $0.71 per diluted share.

Period: second quarter of fiscal 2024 ended February 29, 2024
Revenue: $5.82 billion
Net income: $793 million
EPS: $0.71 per diluted share
Result: reported results

Exact text from the filing

Micron Technology, Inc. (Nasdaq: MU) today announced results for its second quarter of fiscal 2024, which ended February 29, 2024. Fiscal Q2 2024 highlights • 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

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Source: SEC EDGAR

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