Micron Technology (MU) Q1 2025 Earnings
How Did MU Stock React to Q1 2025 Earnings?
S&P 500 over the same 30 days: +3.73%.
Did MU Beat Earnings? Q1 2025 Results
Yes. Micron Technology reported Q1 2025 earnings of $1.79 a share on Dec 18, 2024, beating the $1.77 consensus estimate by 1.1%. Revenue was $8.7B against a $8.7B estimate.
Micron Technology posted a strong fiscal first quarter, beating Wall Street expectations on both the top and bottom lines even as shares fell sharply after the company issued softer-than-expected forward guidance. For the quarter ended November 28, 2024, the memory chipmaker reported non-GAAP diluted EPS of $1.79, edging past the $1.77 consensus estimate by 1.18%, while revenue of $8.71 billion matched and narrowly beat estimates by 0.03%, representing an 84.3% surge from the year-ago period. The engine behind that dramatic growth was data center demand tied to AI infrastructure, with that segment crossing 50% of total revenue for the first time and growing more than 400% year over year. GAAP net income reached $1.87 billion, compared to a loss of $1.23 billion a year ago, while gross margin expanded to 38.4% from negative 0.7%. Looking ahead, Micron guided Q2 revenue of $7.90 billion and non-GAAP EPS of $1.43, reflecting near-term softness in consumer markets, though management anticipates a recovery in the second half of fiscal 2025 as AI-driven demand continues to build.
- Strong AI demand driving data center revenue growth over 400% year over year
- Data center revenue surpassed 50% of total revenue for the first time
- Significant gross margin expansion from negative 0.7% to 38.4% GAAP year over year
- Gains in highest margin and strategically important parts of the memory market
“Micron delivered a record quarter, and our data center revenue surpassed 50% of our total revenue for the first time. While consumer-oriented markets are weaker in the near term, we anticipate a return to growth in the second half of our fiscal year. 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.”
Micron Technology CEO, on the earnings call
What Was Micron Technology's Outlook in Q1 2025?
For fiscal Q2 2025, Micron guided revenue of $7.90 billion ± $200 million, GAAP gross margin of 37.5% ± 1.0%, non-GAAP gross margin of 38.5% ± 1.0%, GAAP diluted EPS of $1.26 ± $0.10, and non-GAAP diluted EPS of $1.43 ± $0.10. Management noted that consumer-oriented markets are weaker in the near term but anticipates a return to growth in the second half of fiscal 2025, driven by continued AI-related demand.
MU YoY Financials
| Metric | Q1 2025 | Q1 2024 | Year over year |
|---|---|---|---|
| Revenue | $8.7B | $4.7B | +84.3% |
| Gross Profit | $3.3B | $34.3M | +9,665.7% |
| Operating Income | $2.2B | $553.6M | +292.7% |
| Net Income | $1.9B | $531.9M | +251.5% |
MU Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.