Micron Technology, Inc. (MU) reported strong financial results for its second quarter of fiscal 2026 on February 26, 2026, with earnings of $12.20 per share, surpassing the Zacks Consensus Estimate by 38.57% and increasing 682% from $1.56 per share a year earlier. Revenue reached $23.86 billion, a 196% year-over-year increase, exceeding consensus expectations by 21.67%, driven by high demand for high bandwidth memory (HBM) products.
For the fiscal third quarter, Micron expects revenue of approximately $35.5 billion (+/- $750 million) and has projected a non-GAAP gross margin of around 81%. The Zacks Consensus Estimate for third-quarter earnings is set at $11.04 per share, while Micron forecasts adjusted EPS of $19.15 (+/- 40 cents).
In terms of product performance during the second quarter, DRAM revenues totaled $18.8 billion, contributing 79% to total revenues and showing an increase of 207% year-over-year. NAND revenues were $5 billion, comprising 21% of total revenues and rising 169% from the previous year. Micron exited the quarter with cash and investments of $16.7 billion and reported an operating cash flow of $11.9 billion.
