Micron Technology reported fiscal third-quarter revenue of $41.46 billion. This 346% year-over-year increase exceeded the consensus estimate of $35.8 billion. Adjusted earnings per share reached $25.11, significantly surpassing analyst projections.
Soaring demand for high-bandwidth memory (HBM) chips used in AI data centers drove the record performance. Micron issued a strong revenue forecast for the fourth quarter based on the continued AI infrastructure buildout. The stock declined in premarket trading as investors engaged in profit-taking following a recent rally.