Micron revenue quadruples as memory prices surge on AI demand
Micron revenue surges on AI memory demand, topping estimates and lifting margins Get the earnings beat, data center growth, and outlook that sent shares higher
Micron said its fiscal thirdquarter revenue more than quadrupled from a year earlier, driven by strong demand for memory products tied to artificial intelligence infrastructure. The company’s stock rose 15% in extended trading after results beat Wall Street estimates.
For the quarter, Micron reported revenue of $41.46 billion and adjusted earnings per share of $25.11, both above analyst expectations. Net income also increased sharply, and gross margin improved as higher memory prices lifted profitability.
The company said the data center business was the main source of growth, while mobile, client, automotive and embedded segments also expanded. Micron added that it has signed longterm customer agreements that provide more visibility into future sales and investment planning.