Micron Shares Surge 12.6% After Record $41.46B Q3 Revenue Beat
MU•Micron posted record fiscal Q3 revenue of $41.46 billion, 16.2% above consensus, and EPS of $25.11, beating estimates by 22.6%. The company forecast Q4 revenue of $49–51 billion and after-hours shares jumped 12.6% to $1,180.97 on AI-driven memory shortages.
1. Record Fiscal Q3 Performance
Micron delivered fiscal third-quarter revenue of $41.46 billion, exceeding consensus by 16.2%, and reported earnings per share of $25.11, 22.6% above analysts' estimates.
2. After-Hours Stock Reaction
Shares rallied about 12.6% in extended trading to $1,180.97 after the release, while competitors such as SanDisk and Western Digital jumped roughly 10.2% and Qualcomm surged 12.7%; the iShares Semiconductor ETF rose 4.1% after hours.
3. AI-Driven Memory Crunch Boosts Sales
A tight memory supply driven by accelerated AI data-center buildout propelled a near quadrupling of revenue year-over-year, sending average memory chip prices sharply higher and fueling the beat.
4. Q4 Outlook and Strategic Customer Agreements
Management projected fiscal fourth-quarter revenue of $49–51 billion and highlighted a new supply agreement and equity participation in a major AI lab funding round, signaling confidence in sustained demand and pricing power.
