Micron Q2 Revenue $23.9B, Up Nearly 200% YoY

Recently, Micron Technology released its financial results for the second quarter of fiscal 2026, reporting revenue of $23.86 billion—nearly triple last year's $8.05 billion and surpassing analyst expectations of $20.07 billion. Adjusted earnings per share (EPS) came in at $12.20, exceeding the anticipated $9.31.

The company's strong performance was fueled by surging demand for AI applications, record uptake of NVIDIA graphics processing units (GPUs), and ongoing capacity expansion initiatives.

CEO Sanjay Mehrotra stated, "Rising memory demand, structural supply constraints, and Micron's strong execution across the board are driving our revenue growth and positive outlook."

Looking ahead, Micron expects third-quarter revenue to reach approximately $33.5 billion, more than triple last year's $9.3 billion, with adjusted EPS around $19.15. Analysts surveyed by the London Stock Exchange Group (LSEG) had projected $24.3 billion in revenue and $12.05 EPS.

Mehrotra highlighted that high-bandwidth memory (HBM4) for NVIDIA's Vera Rubin GPU entered mass production in Q1, with the next-generation HBM4e slated for 2027. NVIDIA plans to deploy custom HBM in its Feynman GPU, set to launch in 2028.

Micron also announced plans for a significant increase in capital expenditure for fiscal 2027, with construction-related costs expected to exceed $10 billion. The company is building two major new manufacturing facilities in Idaho and New York to expand U.S. memory production capacity. The Idaho site is expected to start production by mid-2027, while the $100 billion New York facility, which broke ground in January, is slated to begin wafer production in the second half of 2028.