Micron reports $41.5B in quarterly revenue, crushing Wall Street estimates by nearly $6B
The memory chipmaker's AI-fueled earnings beat sent shares surging double digits after hours, with guidance pointing to even bigger numbers ahead.
Micron Technology just posted a quarter that made Wall Street’s estimates look quaint. The memory chipmaker reported fiscal Q3 2026 revenue of $41.46 billion, blowing past consensus expectations of roughly $35.5 billion to $35.8 billion by nearly $6 billion.
To put the growth in perspective: Micron pulled in $9.3 billion in the same quarter a year ago. That’s a roughly 345% year-over-year increase.
Adjusted earnings per share came in at $25.11, comfortably ahead of analyst predictions in the $20 to $21 range. Shares responded accordingly, jumping 10% to 16% in after-hours trading.
The AI memory machine keeps accelerating
DRAM revenue alone hit $31.3 billion for the quarter, accounting for roughly 75% of total sales.
Gross margins held at approximately 81%.
The company also noted acceleration in its HBM4 ramp, the latest generation of high-bandwidth memory critical for training and running large AI models.
Guidance that made the beat look like a warmup
Micron’s guidance for fiscal Q4 2026 projects revenue of approximately $50 billion. Wall Street had been expecting something in the $43 billion to $44 billion range.
That sequential jump from $41.5 billion to $50 billion would represent roughly 20% growth quarter over quarter.
The previous quarter, fiscal Q2 2026, had come in at $23.86 billion, itself a 196% year-over-year increase.