Micron Technology, Inc. Reports Results for the Third Quarter of Fiscal 2022

BOISE, Idaho, June 30, 2022 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its third quarter of fiscal 2022, which ended June 2, 2022.

Fiscal Q3 2022 highlights

  • Revenue of $8.64 billion versus $7.79 billion for the prior quarter and $7.42 billion for the same period last year
  • GAAP net income of $2.63 billion, or $2.34 per diluted share
  • Non-GAAP net income of $2.94 billion, or $2.59 per diluted share
  • Operating cash flow of $3.84 billion versus $3.63 billion for the prior quarter and $3.56 billion for the same period last year

“Micron delivered record revenue in the fiscal third quarter driven by our team’s excellent execution across technology, products and manufacturing,” said Micron Technology President and CEO Sanjay Mehrotra. “Recently, the industry demand environment has weakened, and we are taking action to moderate our supply growth in fiscal 2023. We are confident about the long-term secular demand for memory and storage and are well positioned to deliver strong cross-cycle financial performance.”

Quarterly Financial Results
  GAAP (1)  Non-GAAP (2)
(in millions, except per share amounts) FQ3-22 FQ2-22 FQ3-21  FQ3-22 FQ2-22 FQ3-21
        
Revenue$8,642 $7,786 $7,422  $8,642 $7,786 $7,422 
Gross margin 4,035  3,676  3,126   4,097  3,724  3,185 
percent of revenue 46.7% 47.2% 42.1%  47.4 %   47.8 %   42.9 %
Operating expenses   1,031     1,130     1,327       953     974     821  
Operating income   3,004     2,546     1,799       3,144     2,750     2,364  
percent of revenue   34.8 %   32.7 %   24.2 %     36.4 %   35.3 %   31.9 %
Net income   2,626     2,263     1,735       2,939     2,444     2,173  
Diluted earnings per share   2.34     2.00     1.52       2.59     2.14     1.88  
                                       

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »
Featured Video
Jobs
Sr. Silicon Design Engineer for AMD at Santa Clara, California
Senior Platform Software Engineer, AI Server - GPU for Nvidia at Santa Clara, California
CAD Engineer for Nvidia at Santa Clara, California
GPU Design Verification Engineer for AMD at Santa Clara, California
Design Verification Engineer for Blockwork IT at Milpitas, California
Senior Firmware Architect - Server Manageability for Nvidia at Santa Clara, California
Upcoming Events
Phil Kaufman Award Ceremony and Banquet to be held November 6 at Hayes Mansion at Hayes Mansion 200 Edenvale Ave San Jose CA - Nov 6, 2024
SEMICON Europa 2024 at Messe München München Germany - Nov 12 - 15, 2024
DVCon Europe 2023 at Holiday Inn Munich – City Centre Munich Germany - Nov 14 - 15, 2024
SEMI MEMS & Imaging Sensors Summit, at International Conference Center Munich Germany - Nov 14, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise