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Micron Technology Reports Results for the Second Quarter of Fiscal 2025

Micron Technology, Inc. (Nasdaq: MU) today announced results for its second quarter of fiscal 2025, which ended February 27, 2025.

Fiscal Q2 2025 highlights
  • Revenue of $8.05 billion versus $8.71 billion for the prior quarter and $5.82 billion for the same period last year
  • GAAP net income of $1.58 billion, or $1.41 per diluted share
  • Non-GAAP net income of $1.78 billion, or $1.56 per diluted share
  • Operating cash flow of $3.94 billion versus $3.24 billion for the prior quarter and $1.22 billion for the same period last year
"Micron delivered fiscal Q2 EPS above guidance and data center revenue tripled from a year ago," said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. "We are extending our technology leadership with the launch of our 1-gamma DRAM node. We expect record quarterly revenue in fiscal Q3, with DRAM and NAND demand growth in both data center and consumer-oriented markets, and we are on track for record revenue and significantly improved profitability in fiscal 2025."

Server Market Revenue Increased 91% During the Q4 2024, NVIDIA Continues Dominating the GPU Server Space

According to the International Data Corporation (IDC) Worldwide Quarterly Server Tracker, the server market reached a record $77.3 billion dollars in revenue during the last quarter of the year. This quarter showed the second highest growth rate since 2019 with a year-over-year increase of 91% in vendor revenue. Revenue generated from x86 servers increased 59.9% in 2024Q4 to $54.8 billion while Non-x86 servers increased 262.1% year over year to $22.5 billion.

Revenue for servers with an embedded GPU in the fourth quarter of 2024 grew 192.6% year-over-year and for the full year 2024, more than half of the server market revenue came from servers with an embedded GPU. NVIDIA continues dominating the server GPU space with over 90% of the total shipments with and embedded GPU in 2024Q4. The fast pace at which hyperscalers and cloud service providers have been adopting servers with embedded GPUs has fueled the server market growth which has more than doubled in size since 2020 with revenue of $235.7 billion dollars for the full year 2024.

People Can Fly Stepping Away from VR Development & Publishing

With reference to the current report No. 54/2023 dated 12 November 2023 regarding the conclusion of the agreement for the production of project Bison, the Management Board of PCF Group S.A. with its registered office in Warsaw (the "Company" or the "Issuer") informs that on 6 March 2025 it agreed with Incuvo S.A. with its registered office Katowice ("Incuvo"), a subsidiary of the Issuer, on the terms of the final stages of work on project Bison, which cover the period until the game's release, scheduled for the fourth quarter of 2025. As part of these arrangements, there were minor changes to the scope of the project and the previous terms of mutual settlements between the parties. According to the changed plan for project Bison, Incuvo will participate in covering a small part of the costs related to the further production of project Bison in exchange for a share of a certain portion of future revenues received by the Company in connection with the publishing and distribution of the game, but only up to the amount that Incuvo allocates to increase the budget for the final stage of production of project Bison.

At the same time, the Management Board of the Company conducted an analysis of the current activities of the Company's capital group (the "Group") in the segment of games designed for virtual reality (VR) platforms, the prospects for further development within this segment, taking into account the current situation of the Group and the change in the market situation consisting in a significant reduction in investments in the production of new VR games by VR hardware platforms holders, which negatively affects the assessment of the future commercial potential of this segment, based on which on 6 March 2025 it decided to phase out the Company's VR game publishing activities.

Foxconn Reports 17-Year High in FY2024 & Q4 Financial Results

Hon Hai Technology Group ("Foxconn") today announced its full year and fourth quarter 2024 financial results.

Full year 2024 net profit reached NT$152.7 billion, resulting in earnings per share of NT$11.01, a 17-year-high. At the same time, the Group announced that it will distribute a cash dividend of NT$5.80 per share, a record level since it's listing in 1991. Despite significant changes in global tariff policies, geopolitical risks and monetary policies, the outlook for 2025 is for strong growth. The company also shared key developments around its three major smart platforms, as well as on AI and EV in 2025.

Mountaintop Studios Announces Imminent Closure, Spectre Divide Will Go Offline Soon

Dear Spectre Fans, it's been two weeks since we launched Spectre Divide Season 1: Flashpoint. We're incredibly grateful for the positivity and support that you've shown over that short time. Unfortunately, the Season 1 launch hasn't achieved the level of success we needed to sustain the game and keep Mountaintop afloat. We were optimistic about the first week. We've had ~400,000 players play, with a peak concurrent player count of ~10,000 across all platforms. But as time has gone on, we haven't seen enough active players and incoming revenue to cover the day-to-day costs of Spectre and the studio. Since the PC launch, we stretched our remaining capital as far as we could, but at this point, we're out of funding to support the game. This means Mountaintop will be closing its doors at the end of this week.

We expect to take Spectre offline within the next 30 days, but we plan on disabling new purchases and refunding money spent since Season 1 launch via the platforms. We'll be following up with more information on this soon. We pursued every avenue to keep going, including finding a publisher, additional investment, and/or an acquisition. In the end, we weren't able to make it work. The industry is in a tough spot right now. This is a painful update to share. We love Spectre, and we're incredibly proud of what we built with this community. From the entire team at Mountaintop, I want to thank the Spectre community for all your support these past few years. We've loved every minute, and we're sincerely going to miss you. Special thanks to our incredible investors too, without which Spectre wouldn't have been possible.

4Q24 Global Top 10 Foundries Set New Revenue Record, TSMC Leads in Advanced Process Nodes

TrendForce's latest research reveals that the global foundry industry exhibited a polarized trend in 4Q24. Advanced process nodes benefited from strong demand in AI servers, flagship smartphone application processors (APs), and new PC platforms, driving high-value wafer shipments. This growth helped offset the slowdown in mature process demand, allowing the top 10 foundries to achieve nearly 10% QoQ revenue growth, reaching US$38.48 billion, and marking another industry record.

TrendForce notes that new U.S. trade tariffs under the Trump administration have started affecting the foundry industry. A surge in recent orders for TVs, PCs, and notebooks bound for the U.S. in 4Q24 is expected to extend into 1Q25. Additionally, China's consumer subsidy program—introduced in late 2024—has spurred early inventory restocking among upstream customers. Combined with persistent demand for TSMC's AI-related chips and advanced packaging, these factors suggest that despite Q1 being a seasonally weak quarter, foundry revenue will only decline slightly.

Dell Technologies Delivers Fourth Quarter and Full-Year Fiscal 2025 Financial Results

Dell Technologies announces financial results for its fiscal 2025 fourth quarter and full year. The company also provides guidance for its fiscal 2026 first quarter and full year.

Full-Year Summary
  • Full-year revenue of $95.6 billion, up 8% year over year
  • Full-year operating income of $6.2 billion, up 15% year over year, and non-GAAP operating income of $8.5 billion, up 8%
  • Record full-year diluted earnings per share of $6.38, up 39% year over year, and record non-GAAP diluted EPS of $8.14, up 10%
  • Cash flow from operations was $4.5 billion
  • Announcing a cash dividend increase of 18% and $10 billion increase in share repurchase authorization
  • FY26 guidance: Full-year revenue growth of 8%, diluted EPS growth of 23% and non-GAAP diluted EPS growth of 14%

Server DRAM and HBM Continue to Drive Growth, 4Q24 DRAM Industry Revenue Increases by 9.9% QoQ

TrendForce's latest research reveals that global DRAM industry revenue surpassed US$28 billion in 4Q24, marking a 9.9% QoQ increase. This growth was primarily driven by rising contract prices for server DDR5 and concentrated shipments of HBM, leading to continued revenue expansion for the top three DRAM suppliers.

Most contract prices across applications were seen to have reversed downward. However, increased procurement of high-capacity server DDR5 by major American CSPs helped sustain price momentum for server DRAM.

NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2025

NVIDIA today reported revenue for the fourth quarter ended January 26, 2025, of $39.3 billion, up 12% from the previous quarter and up 78% from a year ago.

For the quarter, GAAP earnings per diluted share was $0.89, up 14% from the previous quarter and up 82% from a year ago. Non-GAAP earnings per diluted share was $0.89, up 10% from the previous quarter and up 71% from a year ago.

NVIDIA to Consume 77% of Silicon Wafers Dedicated to AI Accelerators in 2025

Investment bank Morgan Stanley has estimated that an astonishing 77% of all globally produced silicon wafers dedicated to AI accelerators will be consumed by none other than NVIDIA. Often, investment research by large investment banks like Morgan Stanley includes information from the semiconductor supply chain, which is constantly expanding to meet NVIDIA's demands. When looking at wafer volume for AI accelerators, it is estimated that in 2024, NVIDIA captured nearly 51% of wafer consumption for its chips, more than half of all demand. With NVIDIA's volume projected to grow to 77%, this represents more than a 50% year-over-year increase, which is incredible for a company of NVIDIA's size. Right now, NVIDIA is phasing out its H100 accelerators in favor of Blackwell 100/200 and the upcoming 300 series of GPUs paired with Grace CPUs.

NVIDIA is accelerating its product deployment timeline and investing a lot in its internal research and development. Morgan Stanley also projects that NVIDIA will invest almost $16 billion in its R&D budget, enough to endure four to five years of development cycles running three design teams sequentially and still delivering new products on an 18-24 month cadence. The scale of this efficiency and development rivals everyone else in the industry. With all this praise, NVIDIA's Q4 revenue report is coming in exactly a week on February 26, so we have to see what its CEO, Jensen Huang, will deliver and show some estimates for the coming months.

NVIDIA's Latest "State of AI in Telecommunications" Survey Highlights Increased Integration

The telecom industry's efforts to drive efficiencies with AI are beginning to show fruit. An increasing focus on deploying AI into radio access networks (RANs) was among the key findings of NVIDIA's third annual "State of AI in Telecommunications" survey, as more than a third of respondents indicated they're investing or planning to invest in AI-RAN.

The survey polled more than 450 telecommunications professionals worldwide, revealing continued momentum for AI adoption—including growth in generative AI use cases—and how the technology is helping optimize customer experiences and increase employee productivity. Of the telecommunications professionals surveyed, almost all stated that their company is actively deploying or assessing AI projects.

ASE Technology Holding Co. Reports Q4 and 2024 Financial Results

ASE Technology Holding Co., Ltd., the leading provider of semiconductor assembly and testing services ("ATM") and the provider of electronic manufacturing services ("EMS"), today reported its unaudited net revenues of NT$162,264 million for 4Q24, up by 1.0% year-over-year and up by 1.3% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT9,312 million, down from NT$9,392 million in 4Q23 and down from NT$9,733 million in 3Q24. Basic earnings per share for the quarter were NT$2.15 (or US$0.134 per ADS), compared to NT$2.18 for 4Q23 and NT$2.25 for 3Q24. Diluted earnings per share for the quarter were NT$2.07 (or US$0.129 per ADS), compared to NT$2.13 for 4Q23 and NT$2.18 for 3Q24.

For the full year of 2024, the Company reported unaudited net revenues of NT$595,410 million and net income attributable to shareholders of the parent of NT$32,483 million. Basic earnings per share for the full year of 2024 were NT$7.52 (or US$0.470 per ADS). Diluted earnings per share for the full year of 2024 were NT$7.23 (or US$0.452 per ADS).

GlobalFoundries Reports Fourth Quarter 2024 and Fiscal Year 2024 Financial Results

GlobalFoundries Inc. (GF), today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2024.

"In the fourth quarter, the GF team delivered solid financial results that exceeded the Non-IFRS midpoint of the guidance ranges we provided in our November earnings release," said Dr. Thomas Caulfield, President and CEO of GF. "2024 presented a unique set of challenges for our industry, but thanks to our focus on operational excellence, we generated over $1 billion of Non-IFRS adjusted free cash flow. As we look to 2025, we are encouraged by our strong design win momentum across our end markets and product portfolio as we position GF for a growth year."

Global Semiconductor Sales Hit $627 Billion in 2024

The Semiconductor Industry Association (SIA) today announced global semiconductor sales hit $627.6 billion in 2024, an increase of 19.1% compared to the 2023 total of $526.8 billion. Additionally, fourth-quarter sales of $170.9 billion were 17.1% more than the fourth quarter of 2023, and 3.0% higher than the third quarter of 2024. And global sales for the month of December 2024 were $57.0 billion, a decrease of 1.2% compared to the November 2024 total. Monthly sales are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average. SIA represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms.

"The global semiconductor market experienced its highest-ever sales year in 2024, topping $600 billion in annual sales for the first time, and double-digit market growth is projected for 2025," said John Neuffer, SIA president and CEO. "Semiconductors enable virtually all modern technologies - including medical devices, communications, defense applications, AI, advanced transportation, and countless others - and the long-term industry outlook is incredibly strong."

AMD Reports Fiscal Fourth Quarter and Full Year 2024 Financial Results

AMD today announced financial results for the fourth quarter and full year of 2024. Fourth quarter revenue was a record $7.7 billion, gross margin was 51%, operating income was $871 million, net income was $482 million and diluted earnings per share was $0.29. On a non-GAAP basis, gross margin was 54%, operating income was a record $2.0 billion, net income was a record $1.8 billion and diluted earnings per share was $1.09.

For the full year 2024, AMD reported record revenue of $25.8 billion, gross margin of 49%, operating income of $1.9 billion, net income of $1.6 billion, and diluted earnings per share of $1.00. On a non-GAAP basis, gross margin was a record 53%, operating income was $6.1 billion, net income was $5.4 billion and diluted earnings per share was $3.31.

Artificial Intelligence (AI) Chips Market to Grow by USD 902.6 Billion by 2029: Technavio

Report with market evolution powered by AI—The global artificial intelligence (AI) chips market size is estimated to grow by USD 902.6 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 81.2% during the forecast period. Increased focus on developing AI chips for smartphones is driving market growth, with a trend towards convergence of AI and IoT. However, dearth of technically skilled workers for ai chips development poses a challenge. Key market players include Advanced Micro Devices Inc., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Google LLC, Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Microchip Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., SambaNova Systems Inc., Samsung Electronics Co. Ltd., SenseTime Group Inc., Taiwan Semiconductor Manufacturing Co. Ltd., and Tesla Inc.

Apple Global Revenue Soars to Record High, Services Continue to Shine

Apple is off to a great start in 2025, thanks to a record-breaking fourth quarter. Net revenue soared to a whopping $124.3 billion - the highest ever for the Cupertino giant - with iPhones driving 55.6% of revenue. Macs and iPads, as usual, appear to be a drop in the bucket compared to iPhones, with $8.98 and $8.088 billion in net sales respectively. Services witnessed commendable growth, adding $26.34 billion to Apple's pile.

Of course, this does not mean that the grass is all green for the company. Apple Intelligence witnessed a tumultuous launch, suffering from multiple setbacks and lukewarm reviews. Tim Cook does believe that there is still a lot of innovation on the table for the iPhone, which he revealed in a recent interview. Considering that the company is widely rumored to be preparing a major redesign for the iPhone, along with a brand-new Air/Slim variant, it does appear that this year will turn out to be quite an interesting one for iPhone enthusiasts.

Samsung Electronics Announces Fourth Quarter and FY 2024 Results

Samsung Electronics today reported financial results for the fourth quarter and the fiscal year 2024. The Company posted KRW 75.8 trillion in consolidated revenue and KRW 6.5 trillion in operating profit in the quarter ended December 31, 2024. For the full year, it reported KRW 300.9 trillion in annual revenue and KRW 32.7 trillion in operating profit.

Although fourth quarter revenue and operating profit decreased on a quarter-on-quarter (QoQ) basis, annual revenue reached the second-highest on record, surpassed only in 2022. Meanwhile, operating profit was down KRW 2.7 trillion QoQ, due to soft market conditions especially for IT products, and an increase in expenditures including R&D. In the first quarter of 2025, while overall earnings improvement may be limited due to weakness in the semiconductors business, the Company aims to pursue growth through increased sales of smartphones with differentiated AI experiences, as well as premium products in the Device eXperience (DX) Division.

Intel Reports Fourth-Quarter and Full-Year 2024 Financial Results

Intel Corporation today reported fourth-quarter and full-year 2024 financial results. "The fourth quarter was a positive step forward as we delivered revenue, gross margin and EPS above our guidance," said Michelle Johnston Holthaus, interim co-CEO of Intel and CEO of Intel Products. "Our renewed focus on strengthening and simplifying our product portfolio, combined with continued progress on our process roadmap, is positioning us to better serve the needs of our customers. Dave and I are taking actions to enhance our competitive position and create shareholder value."

"The cost reduction plan we announced last year to improve the trajectory of the company is having an impact," said David Zinsner, interim co-CEO and chief financial officer of Intel. "We are fostering a culture of efficiency across the business while driving toward greater returns on our invested capital and improved profitability. Our Q1 outlook reflects seasonal weakness magnified by macro uncertainties, further inventory digestion and competitive dynamics. We will remain highly focused on execution to build on our progress and unlock value."

Western Digital Reports Fiscal Second Quarter 2025 Financial Results

Western Digital Corp. today reported fiscal second quarter 2025 financial results.

"As we finalize the separation of our businesses, we are confident that both Western Digital and Sandisk will continue driving innovation and providing compelling storage solutions to customers while delivering long-term shareholder value," said David Goeckeler, Western Digital CEO. "We expect that our strong performance in HDD and our strategic approach to managing our Flash business within the New Era of NAND will allow each company to capture the growing demand for storage driven by the AI Data Cycle."

Microsoft Announces its FY25 Q2 Earnings Release

Microsoft Corp. today announced the following results for the quarter ended December 31, 2024, as compared to the corresponding period of last fiscal year:
  • Revenue was $69.6 billion and increased 12%
  • Operating income was $31.7 billion and increased 17% (up 16% in constant currency)
  • Net income was $24.1 billion and increased 10%
  • Diluted earnings per share was $3.23 and increased 10%
"We are innovating across our tech stack and helping customers unlock the full ROI of AI to capture the massive opportunity ahead," said Satya Nadella, chairman and chief executive officer of Microsoft. "Already, our AI business has surpassed an annual revenue run rate of $13 billion, up 175% year-over-year."

ASML Reports €28.3 Billion Total Net Sales and €7.6 Billion Net Income in 2024

Today, ASML Holding NV (ASML) has published its 2024 fourth-quarter and full-year results.
  • Q4 total net sales of €9.3 billion, gross margin of 51.7%, net income of €2.7 billion
  • Quarterly net bookings in Q4 of €7.1 billion of which €3.0 billion is EUV
  • 2024 total net sales of €28.3 billion, gross margin of 51.3%, net income of €7.6 billion
  • ASML expects Q1 2025 total net sales between €7.5 billion and €8.0 billion, and a gross margin between 52% and 53%
  • ASML expects 2025 total net sales to be between €30 billion and €35 billion, with a gross margin between 51% and 53%
CEO statement and outlook
"Our fourth-quarter was a record in terms of revenue, with total net sales coming in at €9.3 billion, and a gross margin of 51.7%, both above our guidance. This was primarily driven by additional upgrades. We also recognized revenue on two High NA EUV systems. We shipped a third High NA EUV system to a customer in the fourth quarter.

Logitech Announces Fourth Consecutive Quarter of Sales Growth

Logitech International today announced financial results for the third quarter of Fiscal Year 2025. "We're excited to deliver strong, profitable growth once again, in our biggest quarter of the year," said Hanneke Faber, Logitech chief executive officer. "Our growth was driven by our strategic priorities. We delivered superior innovation. Gaming sales were near pandemic-high levels, thanks to an outstanding set of innovations launched ahead of the holidays. We delivered near record sales in our premium Pro Gaming and MX portfolios. Logitech for Business made excellent progress. And our teams fielded effective marketing campaigns and excellent holiday retail execution to drive broad-based geographic progress."

"Q3 marks another disciplined quarter," said Matteo Anversa, Logitech chief financial officer. "Thanks to our strong operational performance, we again delivered year-over-year expansion of gross margin. While we expect fourth quarter currency headwinds, the strong demand in the third quarter and the continued promotional and operational discipline of our teams give us confidence about the trajectory of our business, and we are increasing our full-year outlook."

SK hynix Announces 4Q24 Financial Results

SK hynix Inc. announced today that it recorded best-ever yearly performance with 66.1930 trillion won in revenues, 23.4673 trillion won in operating profit (with an operating margin of 35%), and 19.7969 trillion won in net profit (with a net margin of 30%). Yearly revenues marked all-time high, exceeding the previous record in 2022 by over 21 trillion won and operating profit exceeded the record in 2018 during the semiconductor super boom.

In particular, fourth quarter revenues went up by 12% to 19.7670 trillion won, operating profit up 15% to 8.0828 trillion won (with an operating margin of 41%) from the previous quarter and net profit recorded 8.0065 trillion won (with a net margin of 41%). SK hynix emphasized that with prolonged strong demand for AI memory, the company achieved all-time high result through world-leading HBM technology and profitability-oriented operation. HBM continued its high growth in fourth quarter marking over 40% of total DRAM revenue and eSSD also showed constant increase in sales. With remarkable product competitiveness based profitability-oriented operation, the company established a stable financial condition which led to improved outcome.

Seagate Technology Reports Fiscal Second Quarter 2025 Financial Results

Seagate Technology Holdings plc (the "Company" or "Seagate"), a leading innovator of mass-capacity data storage, today reported financial results for its fiscal second quarter ended December 27, 2024. "Seagate ended calendar 2024 on a strong note as we grew revenue, gross margin and non-GAAP EPS successively in each quarter of the year.

Our results demonstrate structural improvements in the business and our focus on value capture in an improving demand environment, highlighted by decade-high gross margin performance exiting the December quarter," said Dave Mosley, Seagate's chief executive officer. "We are advancing our technology roadmap to meet our customers' growing need for scalable, cost efficient and sustainable storage solutions in the age of AI. We began ramping HAMR-based Mozaic products to our lead cloud customer in the December quarter and are already sampling in capacities of up to 36 terabytes. Looking ahead, we believe Seagate is in a great position to deliver profitable growth in fiscal 2025," Mosley concluded.
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