Micron Technology Inc. reported fiscal second-quarter 2026 results that significantly exceeded market expectations. The memory chipmaker announced revenue of $14.7 billion, a substantial increase from the $5.82 billion reported in the same quarter last year, representing a year-over-year growth of approximately 152%.
The company's non-GAAP earnings per share came in at $2.45, well above the consensus analyst estimate of $2.24. For the current third quarter, Micron provided guidance projecting revenue of approximately $15.7 billion, plus or minus $200 million, and non-GAAP EPS of $2.67, plus or minus $0.07. This outlook also surpassed analyst projections.
Despite the strong financial performance, Micron's stock (MU) experienced a decline of about 2.5% in after-hours trading following the report. The stock had seen significant gains in the preceding months, driven by strong demand for memory chips used in artificial intelligence applications.
In a statement, CEO Sanjay Mehrotra attributed the results to robust pricing and demand across the company's product portfolio, particularly for High Bandwidth Memory (HBM) used in AI data centers. He noted that the industry supply of HBM for calendar year 2025 is already sold out, with the majority of 2026 supply allocated to customers.
