closed out FY25 with a strong Q4, beating expectations on both revenue and earnings. Revenue hit a record $11.3 billion, topping the $11.15 billion consensus, while EPS came in at $3.03 versus $2.84 expected. Guidance for Q1 FY26 was also above estimates, supported by stronger product mix and rising demand for DRAM and NAND.
The standout story was margin expansion, fueled by surging demand for High Bandwidth Memory (HBM), a key component in powering AI solutions. Its HBM supply is essentially sold out through 2026, giving it pricing leverage. Micron also highlighted progress on HBM4, which is on track for 2026 and promises better performance than previously advertised. These industry leading metrics will allow the company to continue taking additional market share.
While the outlook is strong, risks remain. Micron has committed hundreds of billions toward capacity expansion, which could prove vulnerable if AI demand slows or turns out to be another hype cycle.
For more details, key highlights, and commentary, check out the high-level earnings summary.
