Micron $MU Technology posted record fiscal third-quarter revenue of $41.46 billion, more than quadrupling from $9.30 billion in the same period a year earlier and up from $23.86 billion the prior quarter, the company announced Wednesday. Adjusted earnings per share came in at $25.11 for the quarter.
Wall Street had penciled in $1.60 per share in adjusted profit and $8.87 billion in revenue, according to CNBC.
The company's guidance for its fiscal fourth quarter was equally strong. Micron said it expects revenue of approximately $50 billion, plus or minus $1 billion, with a gross margin of roughly 86% and diluted EPS of $31.00, plus or minus $1.00, on a non-GAAP basis. The consensus forecast heading into the report had fourth-quarter revenue at roughly $9.9 billion, per CNBC.
All four of Micron's business segments posted revenue growth from both the prior quarter and the year-ago period. The Cloud Memory Business Unit brought in $13.77 billion, up from $3.39 billion a year earlier. The Core Data Center Business Unit generated $11.52 billion, compared with $1.53 billion a year ago. The Mobile and Client Business Unit reached $11.52 billion, while the Automotive and Embedded Business Unit contributed $4.63 billion.
Operating cash flow for the quarter reached $25.39 billion, versus $4.61 billion in the same quarter last year. Micron ended the period with $30.2 billion in cash, marketable investments, and restricted cash, and declared a quarterly dividend of $0.15 per share, payable July 21, 2026.
On the product side, the company said its HBM4 memory chips, built on its 1-beta DRAM technology, are in high-volume shipments for a lead customer's platform, with qualification samples shipped to additional customers. Development of HBM4E, built on 1-gamma DRAM technology, is underway, with volume production expected in calendar 2027.
"Micron's record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era," president and CEO Sanjay Mehrotra said in a statement. "Micron is investing at record levels in technology, products, and supply to address our customers' rapidly growing demand."