Micron Technology said it reported revenue of $5.82 billion, GAAP net income of $793 million ($0.71 per diluted share), and non-GAAP net income of $476 million ($0.42 per diluted share) for fiscal 2024 second quarter, Q2, which ended February 29, 2024.

1. 01

   Micron Technology said it reported revenue of $5.82 billion, GAAP net income of $793 million ($0.71 per diluted share), and non-GAAP net income of $476 million ($0.42 per diluted share) for fiscal 2024 second quarter, Q2, which ended February 29, 2024.

2. 02

   The company reported GAAP gross margin of 18.5% for Q2 (versus 0.7% in the prior quarter) and GAAP operating income of $191 million, with an operating margin of 3.3%. It said it had a GAAP operating loss of $1,128 million in the prior quarter.

3. 03

   Micron Technology reported operating cash flow of $1.22 billion, investments in capital expenditures, net, of $1.25 billion, and adjusted free cash flow of -$29 million for Q2. The company said it ended the quarter with cash, marketable investments, and restricted cash of $9.72 billion.

4. 04

   Micron Technology gave revenue guidance of $6.60 billion ± $200 million and GAAP diluted earnings per share guidance of $0.17 ± $0.07 for the fiscal 2024 third quarter, Q3. The company also declared a quarterly dividend of $0.115 per share.

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Original filing

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