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Micron beats estimates with record $54.2B revenue as shares stay flat after hours
The memory chipmaker's AI-fueled run pushes a single quarter's sales past a threshold that looked far-fetched just a year ago
Micron shares were little changed in after-hours trading Wednesday despite the memory chipmaker reporting fiscal fourth-quarter results and guidance that comfortably beat Wall Street expectations.
The company posted record quarterly revenue of $54.23 billion, up from $41.46 billion in the previous quarter and $11.32 billion a year earlier. Adjusted earnings reached $33.42 per share.
Analysts had expected revenue of about $51.07 billion and adjusted earnings of $31.61 per share, according to LSEG data cited by Reuters.
Micron also delivered a stronger-than-expected outlook. The company expects fiscal first-quarter revenue of $61.5 billion, plus or minus $1.5 billion, and adjusted earnings of $38.15 per share, plus or minus $1. Analysts were looking for roughly $57.02 billion in revenue and $35.40 in adjusted earnings.
The results reflect surging demand for memory used in artificial intelligence infrastructure, particularly high-bandwidth memory used alongside advanced processors in data centers.
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Micronās core data center business generated $18 billion in quarterly revenue, up from $11.52 billion in the previous quarter, while its cloud memory unit brought in $16.28 billion. Pasted markdown
CEO Sanjay Mehrotra said the company expects an even stronger fiscal 2027 and is increasing investment in technology, manufacturing and new products as AI drives demand for memory. Pasted markdown
Micron reported $133.19 billion in revenue for the full fiscal year, compared with $37.38 billion a year earlier, while adjusted net income climbed to $86.76 billion. Pasted markdown
The company spent $27.37 billion on capital expenditures during the year and ended the period with $73.48 billion in cash, marketable investments and restricted cash as it continues expanding production capacity. Pasted markdown
Shares initially moved around flat in extended trading despite the large earnings and guidance beats, after more than tripling during 2026 as investors priced in booming AI memory demand. Reuters later reported the stock up more than 1% in after-hours trading.