Micron Technology reported robust Q4 FY2024 results with revenue reaching $7.75 billion, up 93% YoY and 14% QoQ. The company achieved GAAP net income of $887 million ($0.79 per share) and non-GAAP net income of $1.34 billion ($1.18 per share). Operating cash flow strengthened to $3.41 billion, significantly higher than $249 million in the same period last year.The strong performance was driven by record data center revenue and NAND revenue, with data center SSD sales exceeding $1 billion quarterly for the first time. For the full fiscal year 2024, Micron posted revenue of $25.11 billion, compared to $15.54 billion in FY2023, with GAAP net income of $778 million.Looking ahead, Micron forecasts Q1 FY2025 revenue of $8.7 billion (±$200 million) with a gross margin of 38.5% on a GAAP basis. The company declared a quarterly dividend of $0.115 per share, payable on October 23, 2024. Management expressed confidence in achieving record revenue and significantly improved profitability in fiscal 2025.

Micron Technology reported robust Q4 FY2024 results with revenue reaching $7.75 billion, up 93% YoY and 14% QoQ. The company achieved GAAP net income of $887 million ($0.79 per share) and non-GAAP net income of $1.34 billion ($1.18 per share). Operating cash flow strengthened to $3.41 billion, significantly higher than $249 million in the same period last year.The strong performance was driven by record data center revenue and NAND revenue, with data center SSD sales exceeding $1 billion quarterly for the first time. For the full fiscal year 2024, Micron posted revenue of $25.11 billion, compared to $15.54 billion in FY2023, with GAAP net income of $778 million.Looking ahead, Micron forecasts Q1 FY2025 revenue of $8.7 billion (±$200 million) with a gross margin of 38.5% on a GAAP basis. The company declared a quarterly dividend of $0.115 per share, payable on October 23, 2024. Management expressed confidence in achieving record revenue and significantly improved profitability in fiscal 2025.