Sanjay Mehrotra, President & CEO, Micron Technology Inc
For semiconductor entities especially those engaged in providing SSDs, memory modules and other flash products, the corona struck period has brought in high revenue growths. With people mostly staying indoors, the markets around notebooks, gaming PCs, smartphones, tablets and other IT accessories have rapidly increased, which in turn, generated enough demand for various flash products. This is what gets reflected in the improved fiscal performance of companies such as Micron Technology, which is one of the leading manufacturers of flash products in the world.
Yes, in its latest financial report, Micron Technology harnesses a bumper revenue accrual of $6.24 Billion in the Q2 2021 registering a 30 percent growth over the revenue of $4.80 Billion in the corresponding quarter last fiscal. The company got $5.77 billion in revenue in the prior (Q1 2021) quarter.
Micron technology also registers the operating cash flow of $3.06 Billion versus $1.97 Billion for the prior quarter (Q1 2021), and $2.00 Billion for the same quarter last fiscal. While, the GAAP net income stands at $603 million or $0.53 per diluted share, the Non-GAAP net income stands is $1.13 Billion, or $0.98 per diluted share.
“Micron’s strong fiscal second quarter performance reflects rapidly improving market conditions and continued solid execution,” said Sanjay Mehrotra, President & CEO, Micron Technology Inc. “Our technology leadership in both DRAM and NAND places Micron in an excellent position to capitalize on the secular demand driven by AI and 5G, and to deliver new levels of user experience and innovation across the data center and intelligent edge”.
Fiscal Q2 2021 highlights
- Revenue of $6.24 billion versus $5.77 billion for the prior quarter and $4.80 billion for the same period last year
- GAAP net income of $603 million, or $0.53 per diluted share
- Non-GAAP net income of $1.13 billion, or $0.98 per diluted share
- Operating cash flow of $3.06 billion versus $1.97 billion for the prior quarter and $2.00 billion for the same period last year
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