Micron CEO Sanjay Mehrotra speaks at a groundbreaking ceremony for the company’s semiconductor manufacturing facility in Clay, New York, on Jan. 16, 2026.
Heather Ainsworth | Bloomberg | Getty Images
Micron said revenue almost tripled in the latest quarter as results topped analysts’ estimates.
Here’s how the company did relative to LSEG consensus:
- Earnings per share: $12.20 adjusted vs. $9.31 expected
- Revenue: $23.86 billion vs. $20.07 billion expected
Micron is benefiting from soaring demand for Nvidia graphics processing units that run generative artificial intelligence models. Each generation of Nvidia chip packs in more memory, creating a supply crunch. Micron has been working to add capacity, as have competitors Samsung and SK Hynix.
Revenue in the fiscal second quarter increased from $8.05 billion a year earlier, according to a statement.
For the current period, the company expects about $33.5 billion in revenue up from $9.3 billion a year ago, implying growth of over 200%. Adjusted earnings per share will be about $19.15, Micron said. Analysts polled by LSEG had expected $12.05 in adjusted earnings per share or $24.3 billion in revenue.
Net income climbed to $13.8 billion, or $12.07 per share, from $1.58 billion, or $1.41 per share, in the same quarter last year. Adjusted earnings exclude the impact of stock-based compensation and loss on debt prepayments.
The stock has been on a tear. The shares tripled in 2025 and have jumped another 62% year to date as of Wednesday’s close. Among the 10 most valuable U.S. tech companies, Micron is the only one that’s up. Oracle is the leading decliner, down 22%, and Microsoft and Tesla have also seen double-digit percentage drops.
Executives will discuss the results with analysts on a conference call starting at 4:30 p.m. ET.
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