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Micron Technology Inc. (MU-8.15%) has submitted its 10-Q filing for the quarterly period ended February 27, 2025.
The filing details financial results for the quarter, reporting revenue of $8.05 billion, an increase from $5.82 billion in the same quarter the previous year. This increase is attributed to higher average selling prices and increased demand in the data center market.
Cost of goods sold was $5.09 billion, representing 63% of sales, compared to 81% in the same quarter of the previous year. The decrease in cost ratio is due to improved manufacturing efficiencies and higher selling prices.
Micron reported a gross margin of $2.96 billion for the quarter, compared to $1.08 billion in the previous year, reflecting improved pricing and cost efficiencies.
Research and development expenses were $898 million, up from $832 million in the previous year, driven by increased investment in advanced technologies.
Selling, general, and administrative expenses were $285 million, slightly up from $280 million, due to higher employee compensation.
Net income for the quarter was $1.58 billion, up from $793 million in the previous year. Earnings per share were $1.42, compared to $0.72 in the previous year.
Cash provided by operating activities was $7.19 billion, while cash used in investing and financing activities was $6.30 billion and $326 million, respectively.
Micron declared a quarterly dividend of $0.115 per share, payable on April 15, 2025, to shareholders of record as of March 31, 2025.
The company continues to focus on expanding its production capacity in the United States and other regions, supported by government incentives under the CHIPS Act.
Micron highlighted risks related to geopolitical tensions, supply chain constraints, and market competition, which could impact future operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Micron Technology Inc. quarterly 10-Q report dated March 21, 2025. To report an error, please email earnings@qz.com.