Micron revenue quadrupled to $41.46 billion as AI memory demand surged
What's next: The chipmaker forecast about $50 billion in current-quarter revenue, well above analyst estimates of $43.58 billion.
Micron Technology posted fiscal third-quarter revenue of $41.46 billion, more than four times the $9.3 billion it recorded a year earlier, as tight memory supply and AI-driven demand lifted prices. Adjusted earnings per share came in at $25.11, ahead of LSEG estimates of $20.78, while net income rose to $28.24 billion from $1.89 billion a year earlier. The stock jumped 15% in extended trading. Micron said gross margin climbed to 84.9% from 39% a year earlier, and data center revenue rose more than sevenfold to $11.5 billion. The company also said it signed 16 long-term customer agreements spanning three to five years, with expected financial commitments of $22 billion.