Micron Technology Breaks New Ground with Record $41.5B Revenue, Resulting in a 17% Stock Surge
Micron Technology (NASDAQ: MU) unveiled an unprecedented earnings report on Wednesday, June 25, 2026. The fiscal Q3 2026 revenue reached a staggering $41.46 billion, quadrupling from a mere $9.3 billion the previous year and exceeding analyst expectations of $35.85 billion by over 17%.
Adjusted earnings per share were reported at $25.11, surpassing the consensus estimate of $20.78 by nearly 24%. This extends Micron’s streak of beating EPS estimates to seven consecutive quarters. Gross margins skyrocketed to a record 84.9%, a significant increase from 39% a year earlier, surpassing even industry giants Nvidia and Meta.
The company’s data center segment emerged as the standout performer, with sales escalating more than sevenfold to $11.5 billion. Cloud memory revenue also experienced a surge, increasing over 300% to $13.77 billion. Following the report, shares jumped 17%.
In addition to the impressive figures, Micron announced 16 long-term Strategic Customer Agreements, securing approximately $100 billion in minimum contracted revenue. This includes $22 billion in upfront customer cash commitments. The company projects Q4 revenue of approximately $50 billion.
CEO Sanjay Mehrotra attributed the explosive results to relentless AI-driven demand for high-bandwidth memory (HBM). He noted that Micron is already developing next-generation HBM4E chips on its 1-gamma DRAM process node, with volume production targeted for calendar 2027.
Source: CNBC – Micron (MU) earnings report Q3 2026