Micron posts record Q3 revenue and raises Q4 outlook amid rising inventory
Micron Technology reported calendar Q3 2026 revenue of $54.23 billion, a 379% year‑on‑year increase and 6.4% above analyst estimates. Adjusted earnings per share were $33.42, beating consensus by 5%, and the company guided Q4 revenue to $61.5 billion and EPS to $38.15, both above expectations. CEO Sanjay Mehrotra highlighted AI‑driven demand and strategic customer agreements, while inventory days rose to 131 from 122. The results lifted the stock flatly in after‑hours trading.
Why it matters
The earnings beat and upbeat guidance suggest continued revenue momentum, which may support the stock’s valuation in the near term (the company expects an even stronger fiscal 2027). However, the increase in inventory days could signal a potential supply‑demand imbalance that investors will monitor.
Key facts
- 1Q3 2026 revenue was $54.23 billion, up 379% YoY and 6.4% above analyst estimates. tradingview.com
- 2Adjusted EPS for Q3 was $33.42, beating consensus of $31.82 by 5%. tradingview.com
- 3Micron guided Q4 2026 revenue to $61.5 billion at the midpoint, 6.8% above analyst expectations of $57.57 billion. tradingview.com
- 4Guided Q4 adjusted EPS to $38.15 at the midpoint, above the $35.92 consensus. tradingview.com
- 5Operating margin for Q3 was 80.7%, up from 32.3% a year earlier. tradingview.com
- 6Inventory days outstanding increased to 131, up from 122 in the prior quarter. tradingview.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.