From GlobeNewswire: 2024-12-18 16:02:00

Micron Technology, Inc. reported record fiscal Q1 revenue of $8.71 billion, driven by strong AI demand. Data center revenue grew over 40% sequentially and over 400% year over year. Micron’s GAAP net income was $1.87 billion, with non-GAAP net income at $2.04 billion. Operating cash flow was $3.24 billion. Investments in capital expenditures were $3.13 billion, resulting in adjusted free cash flows of $112 million. The company ended the quarter with $8.75 billion in cash, marketable investments, and restricted cash.

Micron’s data center revenue surpassed 50% of total revenue for the first time, with expectations of growth in the second half of the fiscal year. The company continues to gain share in high-margin markets and is well positioned to leverage AI-driven growth. Micron’s Board of Directors declared a quarterly dividend of $0.115 per share, payable on January 15, 2025.

For the second quarter of 2025, Micron expects a revenue of $7.90 billion ± $200 million, with a gross margin of 37.5% ± 1.0%. Operating expenses are forecasted to be $1.24 billion ± $15 million, with diluted earnings per share at $1.26 ± $0.10. The company will host a conference call on December 18, 2024, to discuss its financial results and provide guidance for the second quarter. Information is available at investors.micron.com.

Micron Technology, Inc. is an industry leader in memory and storage solutions, delivering high-performance DRAM, NAND, and NOR memory and storage products. The company’s innovations fuel the data economy, enabling advances in AI and compute-intensive applications. Micron’s goal is to enrich life for all through technology leadership and operational excellence. Visit micron.com for more information.



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