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Micron revenue almost triples, tops estimates as demand for memory soars
Micron's revenue reached $23.86 billion with adjusted EPS of $12.20, driven by strong demand for Nvidia AI chip memory, surpassing analyst estimates for fiscal Q2.
- Micron reported revenue nearly tripled to $23.86 billion for its fiscal Q2 ended February 2026, topping LSEG consensus estimates of $20.07 billion while adjusted earnings per share reached $12.20 versus $9.31 expected.
- Soaring demand for Nvidia graphics processing units running generative artificial intelligence models drives Micron's growth; each new generation of Nvidia chip requires significantly more memory, creating a supply crunch.
- Executives project fiscal Q3 revenue of $33.5 billion, plus or minus $750 million, with adjusted earnings per share of $19.15, both figures significantly exceeding consensus estimates of $23.66 billion and $11.29.
- Micron continues expanding production capacity alongside competitors Samsung and SK Hynix, though the company previously reported supporting only 50% to two-thirds of key customer demand, signaling industry-wide supply constraints.
- Morgan Stanley analyst Joseph Moore noted investors are focused on LTA agreement structures and 2027 demand projections; Executives are scheduled to discuss results on a conference call starting at 4:30 p.m. ET.
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Micron Technology Sees Q3 Adj EPS $18.75-$19.55 vs $11.70 Est; Sees Sales $32.750B-$34.250B vs $23.804B Est - Micron Technology (NASDAQ:MU)
Micron Technology (NASDAQ:MU) is looking for Q3 Adj EPS of $18.75-$19.55 vs $11.70 analyst estimate. sees sales of $32.750 billion-$34.250 billion vs $23.804 billion analyst estimate.
·New York, United States
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Coverage Details
Total News Sources21
Leaning Left3Leaning Right1Center9Last UpdatedBias Distribution69% Center
Bias Distribution
- 69% of the sources are Center
69% Center
L 23%
C 69%
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