Micron Technology’s QQ2 2025 results reflect a resilient memory franchise delivering meaningful year-over-year improvements in revenue and profitability, even as the quarter faced sequential pressure typical of a memory-cycle trough. Revenue of $8.053 billion marked a 3.9% YoY increase, with gross profit of $2.963 billion and a gross margin of approximately 36.8%, underscoring stable product mix and cost discipline. Net income rose to $1.583 billion and diluted EPS to $1.41-$1.42, supported by strong operating leverage in a high-visibility data-center and AI-related memory demand backdrop.
On the cash-flow front, Micron generated solid operating cash flow of about $3.942 billion and reported free cash flow that the dataset lists as $7.148 billion (note: the reported CFO minus capex reconciliation in the period suggests an inconsistency in the free-cash-flow figure within the provided data; the CFO and capex figures point to a more conservative free cash flow of roughly $0.736 billion if calculated strictly). The company ended the period with roughly $7.56 billion in cash and cash equivalents and a net debt position of about $7.40 billion, signaling strong liquidity to fund capex and potential shareholder returns. Total assets stood at ~$73.05 billion with a robust stockholders’ equity base (~$48.63 billion). The balance sheet shows a levered, yet manageable, capital structure (total debt ~$14.95 billion; debt-to-capitalization around 23.5%).
Overall, the QQ2 print reinforces Micron’s capability to translate a favorable mix and stable pricing into meaningful earnings and cash-generation power, while also reminding investors of the cyclical, price-pressured nature of the DRAM/NAND markets and the need to monitor AI-driven demand, channel dynamics, and memory-price trajectories.