Micron Technology — Dec 18, 2024 release

We continue to gain share in the highest margin and strategically important parts of the market and are exceptionally well positioned to leverage AI-driven growth to create substantial value for all stakeholders.” Quarterly Financial Results (in millions, except per share amounts) GAAP (1) Non-GAAP (2) FQ1-25 FQ4-24 FQ1-24 FQ1-25 FQ4-24 FQ1-24 Revenue $ 8,709  $ 7,750  $ 4,726  $ 8,709  $ 7,750  $ 4,726  Gross margin 3,348  2,737  (35) 3,441  2,826  37  percent of revenue 38.4  % 35.3  % (0.7  %) 39.5  % 36.5  % 0.8  % Operating expenses 1,174  1,215  1,093  1,047  1,081  992  Operating income (loss) 2,174  1,522  (1,128) 2,394  1,745  (955) percent of revenue 25.0  % 19.6  % (23.9  %) 27.5  % 22.5  % (20.2  %) Net income (loss) 1,870  887  (1,234) 2,037  1,342  (1,048) Diluted earnings (loss) per share 1.67  0.79  (1.12) 1.79  1.18  (0.95) Investments in capital expenditures, net (2) were $3.13 billion for the first quarter of 2025 , which resulted i n adjusted free cash flows (2) of $112 million for the first quarter of 2025. Micron ended the quarter with cash, marketable investments, and restricted cash of $8.75 billion. On December 18, 2024, Micron’s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on January 15, 2025, to shareholders of record as of the close of business on December 30, 2024. 1 Business Outlook The following table presents Micron’s guidance for the second quarter of 2025: FQ2-25 GAAP (1) Outlook Non-GAAP (2) Outlook Revenue $7.90 billion ± $200 million $7.90 billion ± $200 million Gross margin 37.5% ± 1.0% 38.5% ± 1.0% Operating expenses $1.24 billion ± $15 million $1.10 billion ± $15 million Diluted earnings per share $1.26 ± $0.10 $1.43 ± $0.10 Further information regarding Micron’s business outlook is included in the prepared remarks and slides, which have been posted at investors.micron.com . Investor Webcast Micron will host a conference call on Wednesday, December 18, 2024 at 2:30 p.m. Mountain Time to discuss its first quarter financial results and provide forward-looking guidance for its second quarter. A live webcast of the call will be available online at investors.micron.com . A webcast replay will be available for one year after the call. For Investor Relations and other company updates, follow us on X @MicronTech. About Micron Technology, Inc. We are an industry leader in innovative memory and storage solutions transforming how