NASDAQ$MU
Micron Technology, Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Micron's first quarter financial results exceeded expectations due to robust execution and pricing.
Micron Technology, Inc. reported first quarter fiscal 2024 results with revenue of $4.73 billion, a GAAP net loss of $1.23 billion, and non-GAAP net loss of $1.05 billion. The company's performance was driven by strong execution and pricing, and it anticipates business fundamentals to improve throughout 2024.
- Revenue was $4.73 billion, exceeding both the prior quarter ($4.01 billion) and the same period last year ($4.09 billion).
- GAAP net loss was $1.23 billion, or $1.12 per diluted share.
- Non-GAAP net loss was $1.05 billion, or $0.95 per diluted share.
- Operating cash flow was $1.40 billion, significantly higher than the prior quarter ($249 million) and the same period last year ($943 million).
Headline financials
Revenue & EPS history
Micron · Revenue · Quarterly
$4.73B
Forward guidance
Micron provided guidance for the second quarter of fiscal 2024, with revenue expected to be $5.30 billion ± $200 million.
Tailwinds
- Revenue: $5.30 billion ± $200 million
- Gross margin: 12.0% ± 1.5%
- Non-GAAP Revenue: $5.30 billion ± $200 million
- Non-GAAP Gross margin: 13.0% ± 1.5%
- Non-GAAP Operating expenses: $950 million ± $15 million
Headwinds
- Diluted earnings (loss) per share: ($0.45) ± $0.07
- Operating expenses: $1.07 billion ± $15 million
- Non-GAAP Diluted earnings (loss) per share: ($0.28) ± $0.07
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.1%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+3.5%
Avg return
30 days after
43%
29 / 68 earnings
Positive
+16.9%
Q4 2024
Best reaction
-19.8%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -1.1% | -14.3% | -1.4% | |
| Q1 2026 | +3.5% | +22.5% | +60.9% | |
| Q4 2025 | -4.3% | -1.5% | +31.6% | |
| Q3 2025 | -4.8% | -8.1% | -0.2% | |
| Q2 2025 | -8.0% | -10.6% | -33.2% | |
| Q1 2025 | -19.8% | -17.4% | -2.6% | |
| Q4 2024 | +16.9% | +10.3% | +14.8% | |
| Q3 2024 | -6.3% | -6.8% | -22.5% | |
| Q2 2024 | +16.9% | +24.6% | +13.6% | |
| Q1 2024 | +4.0% | +5.3% | +6.5% | |
| Q4 2023 | -4.0% | +0.0% | -3.4% | |
| Q3 2023 | -3.7% | -4.3% | +6.6% | |
| Q2 2023 | +6.3% | +0.9% | +3.5% | |
| Q1 2023 | -2.5% | -0.9% | +15.4% | |
| Q4 2022 | -1.8% | +5.8% | +6.0% | |
| Q3 2022 | -4.2% | +1.3% | +10.4% | |
| Q2 2022 | -0.9% | -4.6% | -12.1% | |
| Q1 2022 | +9.3% | +13.8% | +8.4% | |
| Q4 2021 | -4.7% | -5.6% | -7.4% | |
| Q3 2021 | -3.4% | -3.1% | -6.5% | |
| Q2 2021 | +6.8% | +8.3% | -0.5% | |
| Q1 2021 | +0.4% | +3.0% | +5.2% | |
| Q4 2020 | -5.6% | -6.4% | +1.5% | |
| Q3 2020 | +6.2% | +2.8% | +3.9% | |
| Q2 2020 | +3.5% | +2.9% | +2.1% | |
| Q1 2020 | +2.9% | +4.5% | +8.8% | |
| Q4 2019 | -12.7% | -14.5% | -2.9% | |
| Q3 2019 | +11.6% | +16.3% | +43.9% | |
| Q2 2019 | +9.0% | +0.4% | +7.5% | |
| Q1 2019 | -7.3% | -10.5% | +0.0% | |
| Q4 2018 | -0.7% | -0.9% | -10.2% | |
| Q3 2018 | +0.3% | -10.3% | -7.1% | |
| Q2 2018 | -11.2% | -14.2% | -17.1% | |
| Q1 2018 | +4.7% | +0.9% | +0.6% | |
| Q4 2017 | +6.4% | +12.8% | +16.4% | |
| Q3 2017 | -7.4% | -9.6% | -9.2% | |
| Q2 2017 | +9.1% | +10.1% | +4.8% | |
| Q1 2017 | +12.3% | +12.6% | +6.3% | |
| Q4 2016 | -0.2% | -0.7% | -6.3% | |
| Q3 2016 | -5.2% | -9.7% | +4.2% | |
| Q2 2016 | +0.2% | — | — | |
| Q1 2016 | -3.2% | — | — | |
| Q4 2015 | +6.2% | — | — | |
| Q3 2015 | -18.3% | — | — | |
| Q2 2015 | -1.5% | — | — | |
| Q1 2015 | -5.0% | — | — | |
| Q4 2014 | +5.0% | — | — | |
| Q3 2014 | +2.0% | — | — | |
| Q2 2014 | -7.3% | — | — | |
| Q1 2014 | +15.5% | — | — | |
| Q4 2013 | -7.2% | — | — | |
| Q3 2013 | -1.5% | — | — | |
| Q2 2013 | +7.8% | — | — | |
| Q1 2013 | -7.3% | — | — | |
| Q4 2012 | +0.7% | — | — | |
| Q3 2012 | -7.4% | — | — | |
| Q2 2012 | -3.9% | — | — | |
| Q1 2012 | +10.7% | — | — | |
| Q4 2011 | -3.4% | — | — | |
| Q3 2010 | +0.0% | — | — | |
| Q3 2011 | +0.0% | — | — | |
| Q2 2011 | -1.1% | — | — | |
| Q2 2010 | +9.2% | — | — | |
| Q4 2010 | +9.2% | — | — | |
| Q1 2011 | +9.2% | — | — | |
| Q1 2010 | -4.0% | — | — | |
| Q1 2009 | -4.0% | — | — | |
| Q4 2009 | -4.0% | — | — |
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