Micron (MU) Q2 earnings report 2026

Micron It said revenue nearly tripled in the latest quarter as results beat analysts’ estimates. The stock fell in extended trading.

The company’s performance according to the LSEG consensus is as follows:

• Earnings per share: $12.20 vs expected $9.31
• Revenues: $23.86 billion versus $20.07 billion expected

Micron benefits from rising demand Nvidia Graphics processing units that run generative AI models. Each generation of Nvidia chips packs more memory, creating a supply shortage. Micron, like its rivals, is working to increase capacity SAMSUNG And SK Hynix.

Revenue in the fiscal second quarter increased from $8.05 billion a year earlier. expression.

For the current period, the company expects revenue of approximately $33.5 billion, up from $9.3 billion in the previous year; This means a growth of over 200%. Micron said adjusted earnings per share would be about $19.15. Analysts surveyed by LSEG expected adjusted earnings per share of $12.05, or $24.3 billion in revenue.

“The increase in our results and outlook is a result of the increase in memory demand driven by artificial intelligence, structural supply constraints and Micron’s overall strong execution,” CEO Sanjay Mehrotra said in prepared remarks the company released at the launch. he said.

AI and traditional servers face a “lack of adequate DRAM and NAND resources,” Mehrotra said. This refers to the company’s traditional memory products, which have long been used in data centers and devices.

Memory companies are shifting capacity largely to the high-bandwidth memory built into Nvidia’s latest GPUs and many other chips that power AI. These products have higher margins.

The company’s gross margin, the remaining profit after accounting for cost of goods sold, more than doubled last year from 36.8% to 74.4%, up from 56% in the previous quarter.

Net income rose to $13.8 billion, or $12.07 per share, from $1.58 billion, or $1.41 per share, in the same quarter last year.

The stock went on a tear. Shares have tripled in 2025 and are up another 62% year-to-date as of Wednesday’s close. Micron is the only company left standing among the 10 most valuable technology companies in the USA. Seer It was the leading decliner, down 22%, and Microsoft And Tesla’s There were also double-digit percentage declines.

Micron said revenue in its cloud memory business rose more than 160% to $7.75 billion. The mobile and customer unit grew even faster, with revenue rising to $7.71 billion from $2.24 billion a year earlier.

Executives will discuss the results in a conference call with analysts starting at 4:30 p.m. ET.

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