Micron Technology: 2022 Q1 revenue of US$7.687 billion

Micron Technology released its financial report for the first quarter of the fiscal year 2022 (September 3, 2021 - December 2, 2022). According to the report, the operating income in the first quarter of the fiscal year 2022 was US$7.687 billion (approximately RMB 49.043 billion), a decrease of 7% from the previous quarter and a year-on-year increase of 33%; the net profit was US$2.306 billion, a decrease of 15% from the previous quarter and a year-on-year increase of 187%; The interest rate was 46%, compared with 30% in the same period last year.

Micron Technology said that the quarter-on-quarter decline in the first quarter of fiscal 2022 was mainly due to the decline in DRAM and NAND sales , of which DRAM product sales fell by 8% and NAND sales fell by 5%. There is a shortage of components, leading to weak overall demand.

The year-on-year increase was mainly due to the increase in DRAM and NAND sales, of which DRAM sales increased by 38% year-on-year, the average selling price increased by 20%, and shipments increased by about 10%; Volumes grew around 10%, and average selling prices rose by single digits.

At the same time, Micron said in the report that it received US$893 million from TI (Texas Instruments) in the first quarter of fiscal 2022, which was obtained from the sale of Lehi's related fixed assets, including plant, equipment, financial leases, etc., and other assets.

Previously, Micron had announced to stop the development of 3D XPoint technology and planned to sell the chip factory (Lehi) in Utah. On June 30, 2021, Micron announced a definitive agreement to sell the Lehi facility to TI, with the sale closing on October 22, 2021.

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