Micron Reports Quadrupled Revenue of $41.46B in Q3, Stock Rises 9%

According to Micron on Wednesday, the memory maker's fiscal third quarter revenue more than quadrupled to $41.46 billion, significantly exceeding LSEG consensus estimates of $35.84 billion. Adjusted earnings per share came in at $25.11 versus $20.78 expected. The stock rose approximately 9% in extended trading.

Revenue jumped from $9.3 billion a year earlier. The company projects approximately $50 billion in revenue for the current quarter, surpassing analyst expectations of $43.58 billion. Gross margin expanded to 81.2% from 69% in the prior quarter, driven by surging memory prices amid elevated AI chip demand.