Press release
Micron Technology, Inc. Reports Results for the Second Quarter of Fiscal 2025
Micron HBM revenue crosses $1 billion milestone in fiscal Q2Strong execution and robust AI demand drives record data center DRAM revenue BOISE, Idaho, March
About this update from Micron Technology, Inc.
[{"type":"text","content":"Micron HBM revenue crosses $1 billion milestone in fiscal Q2Strong execution and robust AI demand drives record data center DRAM revenue BOISE, Idaho, March 20, 2025 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its second quarter of fiscal 2025, which ended February 27, 2025. Fiscal Q2 2025 highlights Revenue of $8.05 billion versus $8.71 billion for the prior quarter and $5.82 billion for the same period last yearGAAP net income of $1.58 billion, or $1.41 per diluted shareNon-GAAP net income of $1.78 billion, or $1.56 per diluted shareOperating cash flow of $3.94 billion versus $3.24 billion for the prior quarter and $1.22 billion for the same period last year “Micron delivered fiscal Q2 EPS above guidance and data center revenue tripled from a year ago,” said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. “We are extending our technology leadership with the launch of our 1-gamma DRAM node. We expect record quarterly revenue in fiscal Q3, with DRAM and NAND demand growth in both data center and consumer-oriented markets, and we are on track for record revenue and significantly improved profitability in fiscal 2025.” Quarterly Financial Results(in millions, except per share amounts)GAAP(1) Non-GAAP(2)FQ2-25FQ1-25FQ2-24 FQ2-25FQ1-25FQ2-24Revenue$8,053 $8,709 $5,824 $8,053 $8,709 $5,824 Gross margin 2,963 3,348 1,079 3,053 3,441 1,163 percent of revenue 36.8% 38.4% 18.5% 37.9% 39.5% 20.0%Operating expenses 1,190 1,174 888 1,046 1,047 959 Operating income 1,773 2,174 191 2,007 2,394 204 percent of revenue 22.0% 25.0% 3.3% 24.9% 27.5% 3.5%Net income 1,583 1,870 793 1,783 2,037 476 Diluted earnings per share 1.41 1.67 0.71 1.56 1.79 0.42 For the second quarter of 2025, investments in capital expenditures, net(2) were $3.09 billion and adjusted free cash flow(2) was $857 million. Micron ended the quarter with cash, marketable investments, and restricted cash of $9.60 billion. On March 20, 2025, Micron’s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on April 15, 2025, to shareholders of record as of the close of business on March 31, 2025. Business Outlook The following table presents Micron’s guidance for the third quarter of 2025: FQ3-25GAAP(1) OutlookNon-GAAP(2) OutlookRevenue$8.80 billion ± $200 million$8.80 billion ± $200 millionGro...