Companies /Technology

Micron Technology Inc

NASDAQ: MU Semiconductors
$975.26
▼ $2.15 (−0.22%) today
Markets closed · 12:19pm ET

Q4 2025 Earnings

Reported Sep 23, 2025, 4:02pm ET · SEC source
$3.03
Beat +12.64%
EPS · est. $2.69
$11.3B
Beat +1.43%
Revenue · est. $11.2B
+33.0%
Beating market
MU vs S&P since report
8 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−9%−6%−3%0Sep 23Sep 24report 4:02pm ETearnings−0.3%−8.1%
−9%−6%−3%0Sep 23Sep 24earnings−0.3%−8.1%
MU −8.1%S&P 500 −0.3%
−9%−6%−3%0Sep 23Sep 24report 4:02pm ETearnings−0.4%−8.1%
−9%−6%−3%0Sep 23Sep 24earnings−0.4%−8.1%
MU −8.1%NASDAQ −0.4%
−5%0+5%Sep 22Oct 1report 4:02pm ETearnings+0.7%+7.2%
−5%0+5%Sep 22Oct 1earnings+0.7%+7.2%
MU +7.2%S&P 500 +0.7%
−5%0+5%Sep 22Oct 1report 4:02pm ETearnings+0.8%+7.2%
−5%0+5%Sep 22Oct 1earnings+0.8%+7.2%
MU +7.2%NASDAQ +0.8%
−2.82%
Day of report
−3.02%
Next session
+12.64%
One week
+35.44%
30 days

S&P 500 over the same 30 days: +2.44%.

Did MU Beat Earnings? Q4 2025 Results

Micron Technology closed out fiscal Q4 2025 with a strong beat on both top and bottom lines, as surging AI data center demand propelled revenue 46.0% higher year-over-year to $11.31 billion, edging past the $11.16 billion consensus estimate by 1.43%. Non-GAAP earnings per share of $3.03 cleared the $2.86 consensus by 5.94%, more than doubling from $1.18 in the year-ago quarter. The standout driver was Micron's Cloud Memory Business Unit, which more than tripled revenue to $4.54 billion, fueled by relentless appetite for high-bandwidth memory and AI-optimized products, helping push non-GAAP gross margins to 45.7% from 36.5% a year earlier. Analysts tracking the broader AI chip supply chain have noted that Micron's spending forecasts carry outsized influence across semiconductor equipment names, and the company's forward guidance did not disappoint; Micron guided fiscal Q1 2026 revenue to $12.50 billion and non-GAAP EPS to $3.75, with non-GAAP gross margins expected to cross 51.5%, reflecting continued momentum in its memory portfolio heading into the new fiscal year.

Key Takeaways
  • AI data center growth driving record Cloud Memory revenue
  • Significant gross margin expansion across all segments
  • Strong demand for DRAM and high-bandwidth memory products
  • Operational execution and technology leadership

“Micron closed out a record-breaking fiscal year with exceptional Q4 performance, underscoring our leadership in technology, products, and operational execution.”

Micron Technology CEO, on the earnings call

Forward Guidance & Outlook

For fiscal Q1 2026, Micron guided revenue of $12.50 billion ± $300 million, representing approximately $1.2 billion in sequential growth. GAAP gross margin is expected at 50.5% ± 1.0%, and non-GAAP gross margin at 51.5% ± 1.0%, marking the first quarter with gross margins exceeding 50%. GAAP diluted EPS is guided at $3.56 ± $0.15, and non-GAAP diluted EPS at $3.75 ± $0.15. Non-GAAP operating expenses are expected at $1.34 billion ± $20 million.

MU YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$4.0B$8.0B$12.0B$7.8B$11.3BRevenue$2.7B$5.1BGross Profit$1.5B$3.7BOperating Income$887.0M$3.2BNet Income
$0$4.0B$8.0B$12.0BRevenueGross ProfitOperating IncomeNet Income

MU Revenue by Segment

Cloud Memory$4.5B
Core Data Center$1.6B
Mobile and Client$3.8B
Automotive and Embedded$1.4B

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