Micron Q4 Earnings: Revenue, EPS Beat On 'Robust AI Demand,' Company Sees 'Significantly Improved' Profitability Ahead, Shares Surge

Micron Technology Inc MU reported fourth-quarter financial results after the market close on Wednesday. Here’s a look at the key metrics from the quarter.

Q4 Earnings: Micron reported fourth-quarter revenue of $7.75 billion, beating the consensus estimate of $7.635 billion. The company reported fourth-quarter adjusted earnings of $1.18 per share, beating analyst estimates of $1.13 per share, according to Benzinga Pro.

Operating cash flow came in at $3.41 billion versus $2.48 billion in the prior quarter and $249 million in the comparable quarter last year. Adjusted free cash flow was $323 million in the quarter. The company ended the quarter with $9.16 billion in cash, marketable investments and restricted cash.

"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," said Sanjay Mehrotra, president and CEO of Micron.

"We are entering fiscal 2025 with the best competitive positioning in Micron’s history. We forecast record revenue in fiscal Q1 and a substantial revenue record with significantly improved profitability in fiscal 2025."

Micron noted that its board declared a quarterly cash dividend of $0.115 per share, payable on Oct. 23 to shareholders of record as of Oct. 7.

See Also: Meta Unveils New AI Features, Quest 3S, Llama 3.2, Holographic Orion Glasses At Connect 2024: ‘We Are Getting Closer To Achieving The Dream Of Reality Labs’

What’s Next: Micron sees first-quarter revenue of $8.7 billion, plus or minus $200 million. The company expects first-quarter adjusted earnings of $1.74 per share, plus or minus eight cents per share.

Micron management will hold a conference call to discuss these quarterly results at 4:30 p.m. ET.

MU Price Action: Micron shares were up 11.74% after hours, trading at $107.03 at the time of publication Wednesday, according to Benzinga Pro.

Photo: Shutterstock.