Companies /Technology

Micron Technology Inc

NASDAQ: MU Semiconductors
$975.26
▼ $2.15 (−0.22%) today
Markets closed · 10:56am ET

Q3 2026 Earnings

Reported Jun 24, 2026, 4:02pm ET · SEC source
$25.11
Beat +23.79%
EPS · est. $20.28
$41.5B
Beat +17.60%
Revenue · est. $35.3B
−33.3%
Trailing market
MU vs S&P since report
8 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−7%0+7%+14%Jun 24Jun 25report 4:02pm ETearnings−0.3%+7.8%
−7%0+7%+14%Jun 24Jun 25earnings−0.3%+7.8%
MU +7.8%S&P 500 −0.3%
−7%0+7%+14%Jun 24Jun 25report 4:02pm ETearnings−0.1%+7.8%
−7%0+7%+14%Jun 24Jun 25earnings−0.1%+7.8%
MU +7.8%NASDAQ −0.1%
−21%−14%−7%0Jun 23Jul 2report 4:02pm ETearnings+0.9%−18.2%
−21%−14%−7%0Jun 23Jul 2earnings+0.9%−18.2%
MU −18.2%S&P 500 +0.9%
−21%−14%−7%0Jun 23Jul 2report 4:02pm ETearnings−1.5%−18.2%
−21%−14%−7%0Jun 23Jul 2earnings−1.5%−18.2%
MU −18.2%NASDAQ −1.5%
+15.74%
Day of report
−6.69%
Next session
−19.61%
One week
−32.39%
30 days

S&P 500 over the same 30 days: +0.89%.

Did MU Beat Earnings? Q3 2026 Results

Micron Technology delivered a blowout fiscal third quarter, with revenue of $41.46 billion beating the $35.25 billion consensus by 17.60% and soaring 345.7% from $9.30 billion a year ago, as relentless AI-driven demand for memory and storage products transformed the company's financial profile. Non-GAAP diluted EPS of $25.11 topped the $20.28 consensus by 23.79%, extending Micron's streak of beating EPS estimates to seven consecutive quarters, while GAAP net income climbed to $28.24 billion from just $1.89 billion in the prior-year period. The single biggest engine behind the results was exceptional pricing power and volume leverage, which pushed gross margins to 84.6% GAAP from 37.7% a year ago. With peers across the semiconductor sector navigating valuation headwinds and uneven demand signals, Micron's numbers stood in sharp contrast. Looking ahead, the company guided fiscal Q4 revenue of $50.00 billion, plus or minus $1.00 billion, and non-GAAP EPS of $31.00, plus or minus $1.00, anchored by newly signed multi-year Strategic Customer Agreements designed to improve revenue durability.

Key Takeaways
  • Surging AI-driven demand for memory and storage products across all business units
  • Dramatic gross margin expansion to 84.6% GAAP (84.9% non-GAAP) from 37.7% year-over-year
  • Strong HBM4 high-volume shipments for AI accelerator platforms
  • Revenue growth across all four business units with Cloud Memory and Core Data Center leading

“Micron's record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era.”

Micron Technology CEO, on the earnings call

Forward Guidance & Outlook

For fiscal Q4 2026, Micron guided revenue of $50.0 billion ± $1.0 billion, GAAP gross margin of approximately 86%, GAAP EPS of $30.73 ± $1.00, non-GAAP gross margin of approximately 86%, non-GAAP operating expenses of approximately $1.65 billion, and non-GAAP EPS of $31.00 ± $1.00, based on approximately 1.15 billion diluted shares. The company noted its multi-year Strategic Customer Agreements are expected to significantly enhance the durability and predictability of financial performance.

MU YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$20.0B$40.0B$9.3B$41.5BRevenue$3.5B$35.1BGross Profit$2.2B$33.3BOperating Income$1.9B$28.2BNet Income
$0$20.0B$40.0BRevenueGross ProfitOperating IncomeNet Income

MU Revenue by Segment

Cloud Memory$13.8B
Core Data Center$11.5B
Mobile and Client$11.5B
Automotive and Embedded$4.6B

Figures from SEC filings and company reports. Not investment advice.