Micron Technology, Inc. stock research
FY2024 Q2
Micron Technology (MU) Gross Margin — Quarter Ended Feb 29, 2024
Revenue and gross profit both increased compared to the immediately preceding quarter and the same quarter one year earlier. Cost of revenue decreased relative to both prior periods, resulting in a gross margin that improved from negative to positive.
Gross margin takeaway
Quarter ended Feb 29, 2024 · FY2024 Q2
Revenue and gross profit both increased compared to the immediately preceding quarter and the same quarter one year earlier. Cost of revenue decreased relative to both prior periods, resulting in a gross margin that improved from negative to positive.
- The strongest observable margin driver is the reduction in cost of revenue relative to revenue, which directly supported the positive gross margin. This improvement is evident when comparing the current quarter to both the prior quarter and the year-ago quarter.
- Compared to the immediately preceding quarter, revenue was higher, gross profit turned from negative to positive, cost of revenue was lower, and gross margin improved significantly. Compared to the same quarter one year earlier, revenue was higher, gross profit turned from negative to positive, cost of revenue was lower, and gross margin improved substantially.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
18.5%
Gross profit
$1.1B
Revenue
$5.8B
Cost of revenue
$4.7B
Quarter-over-quarter change
+19.3 pts
Year-over-year change
+51.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 1, 2023 | $3.8B | -$668.0M | $4.4B | -17.8% |
| Aug 31, 2023 | $4.0B | -$435.0M | $4.4B | -10.8% |
| Nov 30, 2023 | $4.7B | -$35.0M | $4.8B | -0.7% |
| Feb 29, 2024 | $5.8B | $1.1B | $4.7B | 18.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Nov 30, 2023
+19.3 pts
Year-over-year change
Mar 2, 2023
+51.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the reduction in cost of revenue relative to revenue, which directly supported the positive gross margin. This improvement is evident when comparing the current quarter to both the prior quarter and the year-ago quarter.
Compared to the immediately preceding quarter, revenue was higher, gross profit turned from negative to positive, cost of revenue was lower, and gross margin improved significantly. Compared to the same quarter one year earlier, revenue was higher, gross profit turned from negative to positive, cost of revenue was lower, and gross margin improved substantially.
Monitor the trend in cost of revenue relative to revenue to assess whether the gross margin improvement can be sustained.