Q3 25 EPS
$1.91
BEAT +31.72%
Est. $1.45
Q3 25 Revenue
$9.30B
BEAT +5.05%
Est. $8.85B
vs S&P Since Q3 25
+644.8%
BEATING MARKET
MU +666.1% vs S&P +21.2%
Market Reaction
Did MU Beat Earnings? Q3 2025 Results
Micron Technology delivered a standout fiscal third quarter, posting non-GAAP earnings of $1.91 per diluted share against a consensus estimate of $1.61, a beat of nearly 19%, while revenue of $9.30 billion topped expectations by roughly 5% and climbe… Read more Micron Technology delivered a standout fiscal third quarter, posting non-GAAP earnings of $1.91 per diluted share against a consensus estimate of $1.61, a beat of nearly 19%, while revenue of $9.30 billion topped expectations by roughly 5% and climbed 36.6% year-over-year. The primary engine behind the results was an explosive surge in AI-driven memory demand, with data center revenue more than doubling year-over-year and high-bandwidth memory sales growing nearly 50% sequentially, reflecting Micron's deepening role in supplying chips for AI infrastructure buildouts alongside customers like Nvidia. GAAP gross margin expanded to 37.7% from 26.9% a year ago, and operating cash flow reached $4.61 billion for the quarter. Shares rose nearly 4% in after-hours trading on the results. Looking ahead, management guided fiscal Q4 revenue to approximately $10.70 billion and non-GAAP EPS of $2.50, implying continued sequential acceleration, and said the company remains on track to deliver record full-year revenue with solid profitability and free cash flow in fiscal 2025.
Key Takeaways
- • All-time-high DRAM revenue driving record quarterly results
- • Nearly 50% sequential growth in HBM (High Bandwidth Memory) revenue
- • Data center revenue more than doubled year-over-year to reach a quarterly record
- • Strong sequential growth in consumer-oriented end markets
- • Gross margin expansion to 37.7% GAAP (39.0% non-GAAP) from improved pricing and product mix
MU YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
MU Revenue by Segment
With YoY comparisons, source: SEC Filings
“Micron delivered record revenue in fiscal Q3, driven by all-time-high DRAM revenue including nearly 50% sequential growth in HBM revenue. Data center revenue more than doubled year-over-year and reached a quarterly record, and consumer-oriented end markets had strong sequential growth.”
— Sanjay Mehrotra, Q3 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
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| 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 | — |