🔹 Adjusted EPS: $1.79 (Est. $1.73) 🟢
🔹 Revenue: $8.71B (Est. $8.68B) 🟢; UP +84% YoY
🔹 Operating Cash Flow: $3.24B (Est. $4.1B) 🔴
Q2 Guidance:
🔹 Revenue: $7.7B-$8.1B (Est. $8.97B) 🔴
🔹 EPS: $1.33-$1.53 (Est. $1.97) 🔴
🔹 Adjusted Gross Margin: ~38.5%
Key Business Highlights:
🔹 Adj Gross Margin: 39.5% (vs. 0.8% YoY) 🟡
🔹 Adj Operating Income: $2.39B (Est. $2.34B) 🟢
🔹 Adj Operating Margin: 27.5% (vs. 20.2% YoY)
🔸 Record Q1 revenue driven by strong AI demand.
🔸 Data center revenue surpassed 50% of total revenue for the first time, growing 400%+ YoY.
Capital and Cash Flow Metrics:
🔹 Capital Expenditures: $3.13B
🔹 Adjusted Free Cash Flow: $112M
🔹 Cash & Investments: $8.75B
Dividend Update:
🔹 Declared quarterly dividend of $0.115/share, payable January 15, 2025.
CEO Sanjay Mehrotra's Commentary:
🔸 "Micron delivered record results with data center revenue surpassing 50% of total revenue for the first time. While near-term consumer markets are weaker, we expect growth to return in the second half, leveraging AI-driven opportunities."
