Micron posts $23.9B Q2 revenue, boosts dividend 30% and guides $33.5B
Micron posted fiscal Q2 revenue of $23.86 billion, up from $8.05 billion a year earlier, with non-GAAP EPS of $12.20 and GAAP net income of $13.79 billion. The company raised its quarterly dividend 30% to $0.15 per share and guided Q3 revenue at $33.5 billion ±$0.75 billion with gross margins near 81%.
1. Record Q2 Performance
Micron’s fiscal second quarter revenue reached $23.86 billion, nearly triple the $8.05 billion from last year and well above guidance. Non-GAAP EPS came in at $12.20, beating expectations, while GAAP net income was $13.79 billion.
2. Strong Cash Flow and Margins
Operating cash flow climbed to $11.90 billion from $8.41 billion last quarter, and gross margin expanded to 74.9%, driven by tight industry supply and robust AI-related memory demand.
3. Significant Dividend Increase
The board approved a 30% hike in the quarterly dividend to $0.15 per share, underscoring confidence in ongoing free cash flow generation and capital return strategy.
4. Bullish Q3 Outlook
For fiscal Q3, Micron forecasts revenue of $33.5 billion ±$0.75 billion, gross margins around 81%, and non-GAAP EPS of $19.15 ±$0.40, citing continued AI server demand and planned manufacturing investments.