Q3 2024 Financial Metrics:
- Revenue: $6.81 billion (Up 16.95% QoQ | Up 81.53% YoY)
- Gross Profit: $1.83 billion (Gross Margin: 26.9%, Up 8 percentage points QoQ)
- Operating Income: $0.69 billion (Operating Margin: 10.5%, up 10 percentage points QoQ)
- Net Income: $0.33 billion (EPS: $0.30, Up 117.34% YoY but down 58.33% QoQ due to seasonality)
Management indicated that DRAM and NAND revenues are benefiting from tight supply conditions and rising prices. The increased prices (approximately 20% rise in both DRAM and NAND segments) significantly bolstered profitability despite a slight decline in bit shipments for DRAM, demonstrating effective pricing strategy management. Micron's ability to maintain a healthy gross margin amidst rising costs was highlighted as a vital operational achievement, demonstrating resilience in a fluctuating market.