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Meguiar's fiscal 2024 Q1 revenue increased by 15.6% compared with the same period last year. Q1 revenue will be higher than expected.

2024-05-23 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

CTOnews.com news on December 21, Micron released its report for the first quarter of fiscal year 2024 (CTOnews.com Note: September 1-November 30, 2023) on December 20:

Revenue of $4.726 billion (currently about 33.744 billion yuan), up 15.6% from the same period last year and 17.9% month-on-month

According to GAAP, the net loss is $1.23 billion (currently about 8.782 billion yuan), or $1.12 per diluted share.

Non-GAAP net loss of $1.05 billion (currently about 7.497 billion yuan), or $95 million per diluted share

Operating cash flow is $1.4 billion (currently about 9.996 billion yuan), compared with $249 million in the last quarter and $943 million in the same period last year.

Sanjay Mehrotra, President and CEO of Micron Technology, said: "Micron's strong execution and pricing contributed to better-than-expected financial results in the first quarter. We expect business fundamentals to improve in 2024 and industry TAM to achieve breakthroughs in 2025. Our high-bandwidth memory for data center AI applications reflects the strength of the technology and product roadmap, and we are well prepared to seize the huge opportunities that artificial intelligence brings to the end market. "

Looking ahead to the second quarter of fiscal 2024 (December 1, 2023 to February 29, 2024), Micron expects revenue of $5.1 billion to $5.5 billion (currently about 36.414 billion to 39.27 billion yuan), higher than analysts' expectations of $4.99 billion. In addition, the net loss per share will further narrow to between 21 cents and 35 cents. It is expected to have a gross profit margin of 12.0% and operating expenses of $1.07 billion in the second quarter.

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