Micron Technology posts record earnings growth for Q3 26; aims $50 billion in revenue for Q4

The US stock market futures jumped on early Thursday morning after Micron Technology reported record earnings for the quarter ended May 2026. The shares of Micron Technology closed flat on Wednesday ahead of earnings announcements.

The company reported 346% YoY growth in revenue at $41.6 billion as compared to $23.8 billion in the previous quarter and $9.3 billion for the same period last year. The cloud and memory business unit, which is the top contributor to the topline, posted a revenue growth of 315% YoY to $13.7 billion as compared to $3.3 billion last year. The data centre unit’s revenue jumped over 6x from $1.1 billion to over $11.5 billion in Q3 of fiscal year 26. The other two business segments of the Mobile and Automotive business units recorded similar growth during the quarter.

At the operating level, Micron Technology has beaten its rival, Nvidia, in terms of operating margins by posting 80.4% for the quarter ended May 2026. At the same time, earnings per share also improved from $1.68 per share in the previous year's same quarter to $24.6 per share.

Moreover, the topline numbers also beat the street estimates by 16% against the expectations of $35.2 billion. At the EPS level, the earnings beat the street estimates by 21%.

Commenting on the robust earnings, Chairman and President, Sanjay Malhotra said, “Micron’s record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era. Micron is investing at record levels in technology, products and supply to address our customers’ rapidly growing demand. We believe our multi-year Strategic Customer Agreements will significantly enhance the durability and predictability of Micron’s strong financial performance”.

During the Q3-26 earnings disclosure, Micron Technology provided a robust forecast for the subsequent quarter, projecting revenue to reach $50 billion. On a GAAP basis, the company anticipates earnings per share to hit $30, while the Non-GAAP outlook suggests a topline of $50 billion with an EPS of $31.1 per share.

The record earnings by Micron injected fresh optimism around tech stocks in Asia as shares of SK Hynix and Samsung rose 5.1% and 12.8% on Thursday morning. Moreover, the NASDAQ futures also jumped on Thursday morning, indicating a positive start for US markets on Thursday