U.S. Micron, the world's No. 3 memory semiconductor corporations, posted a record quarterly revenue in the second quarter of fiscal year 2026 (December 2025 to February 2026). Revenue surged to nearly triple from a year earlier, beating market expectations.
Micron disclosed on the 18th (local time) that it achieved revenue of $23.86 billion (about 35.9093 trillion won) in the second quarter of fiscal year 2026. That is 2.96 times higher than the same period a year earlier ($8.05 billion). It also grew 1.75 times compared with the previous quarter ($13.64 billion). The figure far exceeds the forecast compiled by research firm LSEG ($20.07 billion).
During the period, Micron's operating income under generally accepted accounting principles (GAAP) was $16.135 billion (about 24.2832 trillion won), an 810% jump from a year earlier ($1.773 billion). Accordingly, the operating margin rose by 45.6 percentage points (P) in one year, from 22.0% to 67.6%. Adjusted earnings per share (EPS) came to $12.2, up 682% year over year, well above Wall Street's estimate of $9.31.
By business unit, revenue totaled ▲cloud memory $7.749 billion ▲core data center $5.687 billion ▲mobile and client $7.711 billion ▲automotive and embedded $2.708 billion.
Micron guided next-quarter revenue at $33.5 billion (±$750 million; about 50.4175 trillion won). It projected adjusted EPS of $19.15, above the market estimate of $12.05.
Ahead of the earnings release, Micron said it is mass-producing and shipping sixth-generation high bandwidth memory (HBM4). Timed with the opening of Nvidia's annual developer conference (GTC 2026), it squarely refuted the recent "Vera Rubin supply exclusion" rumor. Some in the semiconductor industry had said that Samsung Electronics and SK hynix HBM4 would be used in Nvidia's Vera Rubin artificial intelligence (AI) chip launching this year. Micron said its HBM4 was "designed for Nvidia Vera Rubin."
Micron Chief Executive Officer Sanjay Mehrotra said, "With strong demand, industry supply tightness, and excellent execution, we set records across all areas in the second quarter of fiscal year 2026, including revenue, gross margin, EPS, and free cash flow," adding, "We expect to break significant records again in the third quarter." He added, "In the AI era, memory has become a strategic asset for customers, and we are investing in global manufacturing facilities to support customers' growing needs," and "With confidence in our continued business growth, the board decided to raise the quarterly dividends by 30%."