BOISE, Idaho, June 30, 2021 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its third quarter of fiscal 2021, which ended June 3, 2021.
Fiscal Q3 2021 highlights
- Revenue of $7.42 billion versus $6.24 billion for the prior quarter and $5.44 billion for the same period last year
- GAAP net income of $1.74 billion, or $1.52 per diluted share
- Non-GAAP net income of $2.17 billion, or $1.88 per diluted share
- Operating cash flow of $3.56 billion versus $3.06 billion for the prior quarter and $2.02 billion for the same period last year
“Micron set multiple market and product revenue records in our third quarter and achieved the largest sequential earnings improvement in our history,” said Micron Technology President and CEO Sanjay Mehrotra. “Our industry-leading 1α DRAM and 176-layer NAND now represent a meaningful portion of our production, and Micron is in the best position ever to capitalize on the long-term demand trends across the data center, intelligent edge and user devices.”
| Quarterly Financial Results | ||||||||||||||||||
| GAAP (1) | Non-GAAP (2) | |||||||||||||||||
| (in millions, except per share amounts) | FQ3-21 | FQ2-21 | FQ3-20 | FQ3-21 | FQ2-21 | FQ3-20 | ||||||||||||
| Revenue | $ | 7,422 | $ | 6,236 | $ | 5,438 | $ | 7,422 | $ | 6,236 | $ | 5,438 | ||||||
| Gross margin | 3,126 | 1,649 | 1,763 | 3,185 | 2,054 | 1,804 | ||||||||||||
| percent of revenue | 42.1 | % | 26.4 | % | 32.4 | % | 42.9 | % | 32.9 | % | 33.2 | % | ||||||
| Operating expenses | 1,327 | 986 | 875 | 821 | 797 | 823 | ||||||||||||
| Operating income | 1,799 | 663 | 888 | 2,364 | 1,257 | 981 | ||||||||||||
| percent of revenue | 24.2 | % | 10.6 | % | 16.3 | % | 31.9 | % | 20.2 | % | 18.0 | % | ||||||
| Net income attributable to Micron | 1,735 | 603 | 803 | 2,173 | 1,128 | 941 | ||||||||||||
| Diluted earnings per share | 1.52 | 0.53 | 0.71 | 1.88 | 0.98 | 0.82 | ||||||||||||
Investments in capital expenditures, net <
