Micron (MU) earnings report Q3 2026

Key Points:

• Micron's fiscal third-quarter revenue surged to $41.46 billion, more than quadrupling from $9.3 billion a year earlier, driven by soaring demand tied to the artificial intelligence boom, beating analyst estimates of $35.84 billion.
• The company’s adjusted EPS reached $25.11, surpassing the estimated $20.78, with net income soaring to $28.24 billion from $1.89 billion a year ago, and gross margins improving significantly to 84.9%.
• Micron forecasts the current quarter’s revenue around $50 billion, well above analyst expectations, and anticipates tight memory supply conditions to continue beyond 2027 due to sustained AI-driven demand.
• All business units saw strong growth, with data center revenue increasing over sevenfold to $11.5 billion, cloud memory up more than 300% to $13.77 billion, and mobile/client memory sales growing over 250% to $11.52 billion.
• The company has secured 16 long-term agreements with customers, including data center operators and automakers, locking in sales for three to five years, and announced a 15-cent dividend payout in July.