Micron Technology just posted the kind of quarter that makes CFOs weep tears of joy. The memory chipmaker reported fiscal Q3 2026 revenue of approximately $41.5 billion, a staggering 346% increase from $9.3 billion in the year-ago period. Net income hit $28.24 billion, and gross margins ballooned to roughly 85%.
The numbers behind the boom
The results, announced on June 24, paint a picture of a company riding the AI wave with near-perfect timing. Adjusted earnings per share came in at $25.11, and the stock responded with a 15% jump in after-hours trading.
Perhaps more telling than the backward-looking numbers is what Micron sees ahead. The company issued guidance for Q4 FY2026 projecting revenue of approximately $50 billion. That would represent yet another sequential leap from Q3’s already record haul, and a massive step up from Q2’s $23.86 billion.
The growth engine here is unmistakable: AI infrastructure. Demand for DRAM, high-bandwidth memory (HBM), and NAND flash memory has exploded as hyperscalers and AI companies race to build out data centers capable of training and running increasingly sophisticated models.
