Q2 25 EPS
$1.56
BEAT +21.88%
Est. $1.28
Q2 25 Revenue
$8.05B
BEAT +1.97%
Est. $7.90B
vs S&P Since Q2 25
+783.6%
BEATING MARKET
MU +815.7% vs S&P +32.2%
Market Reaction
Did MU Beat Earnings? Q2 2025 Results
Micron Technology posted a strong fiscal second quarter, with non-GAAP earnings of $1.56 per share beating the $1.42 consensus estimate by 9.49% and revenue of $8.05 billion edging past the $7.90 billion forecast by nearly 2%, as surging AI-driven de… Read more Micron Technology posted a strong fiscal second quarter, with non-GAAP earnings of $1.56 per share beating the $1.42 consensus estimate by 9.49% and revenue of $8.05 billion edging past the $7.90 billion forecast by nearly 2%, as surging AI-driven demand for High Bandwidth Memory provided the clearest explanation for the outperformance. HBM revenue crossed $1.00 billion in the quarter while data center DRAM reached a record level, helping lift year-over-year revenue by roughly 38% from $5.82 billion despite a sequential dip from Q1's $8.71 billion as consumer memory markets softened. GAAP gross margin of 36.8% more than doubled from 18.5% a year ago, reflecting improved pricing power rooted in AI infrastructure spending, though a conservative margin outlook for the coming quarter weighed on the stock. Looking ahead, Micron guided fiscal Q3 revenue of $8.80 billion, plus or minus $200 million, with non-GAAP EPS of $1.57, plus or minus $0.10, as the company cited HBM chips already sold out through calendar 2025 and anticipated record annual revenue for the full fiscal year.
Key Takeaways
- • Data center revenue tripled year-over-year
- • Record data center DRAM revenue driven by robust AI demand
- • HBM revenue exceeded $1 billion in the quarter
- • Strong operating cash flow of $3.94 billion, up significantly year-over-year
MU YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
MU Revenue by Segment
With YoY comparisons, source: SEC Filings
“Micron delivered fiscal Q2 EPS above guidance and data center revenue tripled from a year ago. We are extending our technology leadership with the launch of our 1-gamma DRAM node. We expect record quarterly revenue in fiscal Q3, with DRAM and NAND demand growth in both data center and consumer-oriented markets, and we are on track for record revenue and significantly improved profitability in fiscal 2025.”
— Sanjay Mehrotra, Q2 2025 Earnings Press Release
MU Earnings Trends
MU vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MU EPS Trend
Earnings per share: estimate vs actual
MU Revenue Trend
Quarterly revenue: estimate vs actual
MU Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $20.28 | $25.11 | +23.79% | $41.46B | +17.60% |
| Q2 26 BEAT | $9.31 | $12.20 | +31.04% | $23.86B | +22.28% |
| Q1 26 BEAT | $3.94 | $4.78 | +21.32% | $13.64B | +5.91% |
| Q4 25 BEAT FY | $2.69 | $3.03 | +12.64% | $11.32B | +1.43% |
| FY Full Year | — | $8.29 | — | $37.38B | — |
| Q3 25 BEAT | $1.45 | $1.91 | +31.72% | $9.30B | +5.05% |
| Q2 25 BEAT | $1.28 | $1.56 | +21.88% | $8.05B | +1.97% |
| Q1 25 BEAT | $1.77 | $1.79 | +1.13% | $8.71B | +0.03% |
| Q4 24 BEAT FY | $1.14 | $1.18 | +3.51% | $7.75B | +1.51% |
| FY Full Year | — | $1.30 | — | $25.11B | — |