MU Q3 2024 Earnings — Income Statement Breakdown
For its Q3 2024 period (ending 2024-05-30), MU reported revenue of $6.8B, gross profit of $1.8B (26.9% gross margin), operating income of $719M, and net income of −$109M (-1.6% net margin). The flow of revenue into costs and profit is visualized below.
What changed
MU reported a net loss; revenue grew 16.9% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +16.9% | +75.3% | +6.0 pp |
Consensus estimate data is not available for this report.
MU Q3 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $6.8B | 100% |
| Cost of Revenue | −$5.0B | 73.1% |
| Gross Profit | $1.8B | 26.9% |
| Research & Development | −$850M | 12.5% |
| Selling, General & Administrative | −$291M | 4.3% |
| Operating Income | $719M | 10.6% |
| Other Income, net | −$451M | 6.6% |
| Income Tax Expense | −$377M | 5.5% |
| Net Income | −$109M | -1.6% |
Source: original SEC filing (filed 2024-06-26). Accession 0000723125-24-000016. Data normalized by EarningsFyi.