GoKawiilMicron CEO Sanjay Mehrotra speaks at a groundbreaking ceremony for the company's semiconductor manufacturing facility in Clay, New York, on Jan. 16, 2026.
Micron said revenue almost tripled in the latest quarter as results topped analysts' estimates. The stock slipped in extended trading.
Here's how the company did relative to LSEG consensus:
Earnings per share: $12.20 adjusted vs. $9.31 expected
$12.20 adjusted vs. $9.31 expected Revenue: $23.86 billion vs. $20.07 billion expected
Micron is benefiting from soaring demand for Nvidia graphics processing units that run generative artificial intelligence models. Each generation of Nvidia chip packs in more memory, creating a supply crunch. Micron has been working to add capacity, as have competitors Samsung and SK Hynix .
Revenue in the fiscal second quarter increased from $8.05 billion a year earlier, according to a statement.
For the current period, the company expects about $33.5 billion in revenue up from $9.3 billion a year ago, implying growth of over 200%. Adjusted earnings per share will be about $19.15, Micron said. Analysts polled by LSEG had expected $12.05 in adjusted earnings per share or $24.3 billion in revenue.
"The step-up in our results and outlook are the outcome of an increase in memory demand driven by AI, structural supply constraints and Micron's strong execution across the board," CEO Sanjay Mehrotra said in prepared remarks the company issued at the time of the release.
Mehrotra said that AI and conventional servers are facing a lack a "lack of adequate DRAM and NAND supply." That refers to the company's traditional memory products that have long been used in data centers and devices.
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