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 's revenue more than quadrupled in the fiscal third quarter, the company said on Wednesday, as the memory maker continued to benefit from soaring demand tied to the artificial intelligence boom. The stock rose 15% in extended trading.
Here's how the company did versus LSEG consensus estimates:
Revenue : $41.46 billion versus $35.84 billion estimated
: $41.46 billion versus $35.84 billion estimated EPS: $25.11, adjusted, versus $20.78 estimated
Revenue increased from $9.3 billion a year earlier, Micron said in a statement. For the current quarter, the company said it expects revenue of about $50 billion, up from $11.3 billion a year earlier. Analysts were looking for a revenue forecast of $43.58 billion, according to LSEG.
Memory prices have skyrocketed in the last couple years as AI chips eat up all the production capacity of the small crop of vendors. With data center demand increasing by the day, prices are also rising for memory used in smartphones, laptops and other gadgets.
"Our customers are recognizing that supply shortages in memory and storage will take considerable time to improve, even as we expect industry supply to improve gradually in 2028," Micron CEO Sanjay Mehrotra said on a call with analysts.
That's turned Micron into a Wall Street darling as its technology is essential for chips made by Nvidia and Google , as well as the servers that house those companies' processors. Micron's stock price is up roughly 700% over the past year, lifting the company's market cap past $1 trillion.