Micron Earnings Summary 06262024
Posted: Jun 26, 2024
- Micron's revenue in FQ3 2024 was $6.8 billion, with a 17% increase Q/Q and an 82% increase Y/Y - DRAM revenue was $4.7 billion with a 13% Q/Q increase, while NAND revenue was $2.1 billion with a 32% increase Q/Q - DRAM bit shipments decreased by mid-single digits Q/Q but ASPs increased by about 20% Q/Q, while NAND shipments increased by high-single digits Q/Q with ASPs also increasing by around 20% Q/Q - Micron forecasts industry bit demand growth in the mid-teens percentage range for both DRAM and NAND in CY24, with supply expected to be below demand, leading to continued price increases and improved profitability.
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