Micron's AI-fueled revenue forecast blows past estimates, backlog swells
MU•Micron forecast first-quarter revenue of $61.5 billion, plus or minus $1.5 billion, and adjusted profit of $38.15 per share, both above estimates. Customer commitments under long-term supply agreements rose to $32 billion, while fourth-quarter revenue reached $54.23 billion.
1. Forecast and commitments
Micron forecast first-quarter revenue of $61.5 billion, plus or minus $1.5 billion, compared with analysts' average estimate of $57.02 billion. Adjusted profit is expected to be $38.15 per share, plus or minus $1, versus estimates of $35.40. Customers increased commitments under long-term supply agreements to $32 billion from $22 billion in June, with most in the form of cash deposits.
2. Record results and demand
Micron's remaining performance obligations under those agreements rose to about $150 billion from roughly $100 billion last quarter, finance chief Mark Murphy said. He said the company expects fiscal 2027 to be another record year, with revenue growth each quarter. Fourth-quarter revenue more than quadrupled to $54.23 billion, beating estimates of $51.07 billion, while adjusted profit was $33.42 per share, above estimates of $31.61.
