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BOISE, Idaho — Micron Technology Inc. reported fiscal third-quarter 2026 revenue of $41.46 billion, far exceeding Wall Street forecasts and marking a 346% increase from the $9.30 billion recorded in the same period a year earlier. Revenue also rose 74% from $23.86 billion in the prior quarter, underscoring the pace of growth in the company’s core memory business. The surge was driven primarily by strong global demand for high-bandwidth memory chips used in artificial intelligence data centers, a trend that has accelerated as technology companies expand AI infrastructure. Non-GAAP earnings per share reached $25.11, beating analyst estimates that had ranged roughly from $20.20 to $20.63. GAAP net income totaled $28.24 billion, reflecting the scale of Micron’s profitability in the current AI-focused hardware cycle. BOISE, Idaho — The company’s blowout quarter sent Micron’s share price up more than 15% in after-hours trading and helped lift sentiment across the broader technology sector following a recent semiconductor sell-off. Micron also issued guidance for its fiscal fourth quarter that significantly topped market expectations, saying it expects revenue of about $50 billion, plus or minus $1 billion, compared with prior consensus forecasts of $42.95 billion. The firm projected adjusted diluted earnings per share of around $31.00, plus or minus $1.00, well above the $25.50 per share analysts had anticipated. Micron said a key contributor to its financial performance was its exceptionally strong non-GAAP gross margin, highlighting the profitability of high-bandwidth memory products tied to AI demand.

By Daniel Hayes | JQJO News