Micron beats on earnings and issues strong guidance as data center revenue jumps 11-fold

Micron Technology CEO Sanjay Mehrotra arrives near the White House ahead of a planned meeting with US President Donald Trump, in Washington, DC, on Sept. 29, 2026.

Oliver Contreras | AFP | Getty Images

Micron reported better-than-expected quarterly results on Wednesday as the memory maker continues to benefit from soaring demand for AI infrastructure. The stock rose slightly in extended trading.

Here's how the company did relative to LSEG consensus:

• Earnings per share: $33.42 adjusted vs. $31.61 expected
• Revenue: $54.23 billion vs. $51.07 billion expected

Revenue almost quadrupled in the fiscal fourth quarter from $11.32 billion a year earlier, according to a statement.

For the fiscal first quarter, Micron said it expects revenue of about $61.5 billion and adjusted earnings per share of $38.15. Analysts polled by LSEG had expected $35.40 in adjusted earnings per share on $57 billion in revenue.

Micron's stock has soared more than 500% in the past year, benefiting from a worldwide supply crunch caused by historic levels of demand for memory chips needed for artificial intelligence models and workloads. The shortage has led to a spike in memory costs and resulted in increased prices for consumer electronics like Apple's iPads and MacBooks.

Micron is the only U.S.-based maker of high-bandwidth memory, HBM, made up of stacks of general-purpose dynamic random-access memory, or DRAM. Fourth-quarter DRAM revenue increased 343% from a year ago to $39.8 billion, representing 73% of total sales.

Net income in the latest quarter climbed to $37.7 billion, or $32.87 per share, from $3.2 billion, or $2.83 per share a year ago.

Advanced graphics and central processors from chip giants like Nvidia and AMD need increasing amounts of HBM to handle AI workloads, and the world's leading providers can't make enough.

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