Q4 24 EPS
$1.18
BEAT +3.51%
Est. $1.14
Q4 24 Revenue
$7.75B
BEAT +1.51%
Est. $7.63B
vs S&P Since Q4 24
+769.1%
BEATING MARKET
MU +798.7% vs S&P +29.6%
Full Year 2024 Results
FY 24 EPS
$1.30
FY 24 Revenue
$25.11B
Market Reaction
Did MU Beat Earnings? Q4 2024 Results
Micron Technology capped fiscal 2024 with a strong fourth-quarter performance, posting adjusted EPS of $1.18 against a consensus estimate of $1.13, a beat of 4.42%, while revenue of $7.75 billion edged past the $7.63 billion consensus by 1.51% and ne… Read more Micron Technology capped fiscal 2024 with a strong fourth-quarter performance, posting adjusted EPS of $1.18 against a consensus estimate of $1.13, a beat of 4.42%, while revenue of $7.75 billion edged past the $7.63 billion consensus by 1.51% and nearly doubled year-over-year, climbing 93.3% from $4.01 billion in the prior-year period. The driving force behind the surge was unmistakable: explosive demand for AI-related memory products, particularly data center DRAM and high bandwidth memory chips, which powered a recovery in gross margins to 35.3% on a GAAP basis from negative 10.8% a year ago. The company also swung to GAAP net income of $887 million, compared to a net loss of $1.43 billion in Q4 fiscal 2023, underscoring how dramatically the memory cycle has shifted. Shares jumped more than 13% following the results, reflecting investor enthusiasm over Micron's fiscal Q1 2025 guidance for revenue of $8.70 billion and non-GAAP EPS of $1.74, with management projecting continued record revenue momentum into the full fiscal year.
Key Takeaways
- • 93% year-over-year revenue growth driven by robust AI demand
- • Strong ramp of data center DRAM products and high bandwidth memory
- • Record NAND revenue led by data center SSD sales exceeding $1 billion quarterly
- • Record data center revenue in fiscal Q4
- • Gross margin recovery from negative 10.8% to 35.3% GAAP year-over-year
- • Operating cash flow surged to $3.41 billion from $249 million year-over-year
MU YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
MU Revenue by Segment
With YoY comparisons, source: SEC Filings
“Micron delivered 93% year-over-year revenue growth in fiscal Q4, as robust AI demand drove a strong ramp of our data center DRAM products and our industry-leading high bandwidth memory. Our NAND revenue record was led by data center SSD sales, which exceeded $1 billion in quarterly revenue for the first time.”
— Sanjay Mehrotra, Q4 2024 Earnings Press Release
MU Earnings Trends
MU vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MU EPS Trend
Earnings per share: estimate vs actual
MU Revenue Trend
Quarterly revenue: estimate vs actual
MU Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $9.31 | $12.20 | +31.04% | $23.86B | +22.28% |
| Q1 26 BEAT | $3.94 | $4.78 | +21.32% | $13.64B | +5.91% |
| Q4 25 BEAT FY | $2.69 | $3.03 | +12.64% | $11.32B | +1.43% |
| FY Full Year | — | $8.29 | — | $37.38B | — |
| Q3 25 BEAT | $1.45 | $1.91 | +31.72% | $9.30B | +5.05% |
| Q2 25 BEAT | $1.28 | $1.56 | +21.88% | $8.05B | +1.97% |
| Q1 25 BEAT | $1.77 | $1.79 | +1.13% | $8.71B | +0.03% |
| Q4 24 BEAT FY | $1.14 | $1.18 | +3.51% | $7.75B | +1.51% |
| FY Full Year | — | $1.30 | — | $25.11B | — |