Micron reports stronger-than-expected Q3 earnings and revenue, lifting Q4 guidance amid surging demand for memory and data center products.
Micron Technology posted Q3 adjusted earnings per share of $25.11, surpassing estimates of $20.49, as revenue reached $41.46 billion against expectations of $35.69 billion. The company also raised its Q4 guidance, projecting adjusted EPS of $30–$32 and revenue of $49–$51 billion, above prior estimates of $25.31 and $43.24 billion, respectively.
Adjusted operating income hit $33.68 billion, exceeding the $27.86 billion estimate, while gross margin expanded to 84.9%, up from the 81.9% forecast. Cloud memory revenue surged to $13.77 billion, well above the $10.69 billion estimate, and core data center revenue doubled expectations at $11.52 billion.
Micron declared a quarterly dividend of $0.15 per share and noted rapid growth in customer demand, particularly in automotive and embedded markets, which generated $4.63 billion in revenue versus the $3.51 billion estimate.