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. The stock was mostly flat in extended trading.
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.
“The step-up in our results and outlook are the outcome of an increase in memory demand driven by AI, structural supply constraints and Micron’s strong execution across the board,” CEO Sanjay Mehrotra said in prepared remarks the company issued at the time of the release.
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.
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.
Micron said revenue in its cloud memory business rose more than 160% to $7.75 billion. The mobile and client unit saw even steeper growth, with revenue jumping to $7.71 billion from $2.24 billion a year ago.
Executives will discuss the results with analysts on a conference call starting at 4:30 p.m. ET.
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