Micron Crushes Earnings With 346% Revenue Surge, Stock Soars
Micron's fiscal Q3 revenue more than quadrupled year-over-year, blowing past estimates and sending shares up 14%+ after hours.
Micron just posted a monster quarter. The memory chip giant reported fiscal Q3 revenue of $41.46 billion — a staggering 346% increase year-over-year and well above the $35.84 billion analysts expected.
Gross margin also beat estimates. And Micron isn't slowing down: the company's Q4 revenue forecast came in above expectations too.
The numbers tell the story. Revenue more than quadrupled compared to the same period last year, driven by surging demand for memory chips. MU shares jumped over 14% in after-hours trading on the news.
Micron's blowout results underscore just how hot the memory market has become. The company continues to ride a massive demand wave, and the forward guidance suggests the momentum isn't fading anytime soon.