MU Q2 2024 Earnings — Income Statement Breakdown
For its Q2 2024 period (ending 2024-02-29), MU reported revenue of $5.8B, gross profit of $1.1B (18.5% gross margin), operating income of $191M, and net income of −$441M (-7.6% net margin). The flow of revenue into costs and profit is visualized below.
What changed
MU reported a net loss; revenue grew 23.2% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +23.2% | +64.3% | +18.5 pp |
Consensus estimate data is not available for this report.
MU Q2 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $5.8B | 100% |
| Cost of Revenue | −$4.7B | 81.5% |
| Gross Profit | $1.1B | 18.5% |
| Research & Development | −$832M | 14.3% |
| Selling, General & Administrative | −$280M | 4.8% |
| Other Operating Expenses | $224M | 3.8% |
| Operating Income | $191M | 3.3% |
| Other Income, net | −$1.3B | 21.5% |
| Income Tax Expense | $622M | 10.7% |
| Net Income | −$441M | -7.6% |
Source: original SEC filing (filed 2024-03-20). Accession 0000723125-24-000004. Data normalized by EarningsFyi.