Micron Technology, Inc. Reports Results for the First Quarter of Fiscal 2022

BOISE, Idaho, Dec. 21, 2021 -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its first quarter of fiscal 2022, which ended Dec. 2, 2021.

Fiscal Q1 2022 highlights

Revenue of $7.69 billion versus $8.27 billion for the prior quarter and $5.77 billion for the same period last year
GAAP net income of $2.31 billion, or $2.04 per diluted share
Non-GAAP net income of $2.47 billion, or $2.16 per diluted share
Operating cash flow of $3.94 billion versus $3.88 billion for the prior quarter and $1.97 billion for the same period last year

?Micron delivered solid fiscal first quarter results led by strong product portfolio momentum,? said Micron Technology President and CEO Sanjay Mehrotra. ?We are now shipping our industry-leading DRAM and NAND technologies across major end markets, and we delivered new solutions to data center, client, mobile, graphics and automotive customers. As powerful secular trends including 5G, AI, and EV adoption fuel demand growth, our technology leadership and world-class execution position us to create significant shareholder value in fiscal 2022 and beyond.?

About Micron Technology, Inc.

We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron? and Crucial? brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities ? from the data center to the intelligent edge and across the client and mobile user experience.

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