Micron forecasts surging revenue as memory demand for AI stays strong

Micron Technology reported fiscal first-quarter results on Wednesday that beat Wall Street expectations for sales and earnings per share, and provided a strong forecast for the current quarter.

Micron shares rose over 7% in extended trading.

Here’s how the memory maker did versus LSEG consensus estimates:

• Earnings per share: $4.78, adjusted, versus $3.95 estimated
• Revenue: $13.64 billion vs. $12.84 billion estimated

In the second quarter, Micron said it expected about $18.70 billion of revenue in the current quarter, versus $14.20 billion expected by LSEG. It said adjusted earnings per share would be about $8.42, blowing away expectations of $4.78 per share.

“This growth in AI data center capacity is driving a significant increase in demand for high-performance and high-capacity memory and storage. Server unit demand has strengthened significantly,” Micron CEO Sanjay Mehrotra said on an earnings call with analysts, adding that the company sees that server units grew in the “high teens” in 2025.

Micron had $5.24 billion of net income during the first quarter, or $4.60 per share, versus $1.87 billion in the year-ago period, or $1.67 per share. Overall revenue surged 57% on a year-over-year basis.

Micron makes memory and solid-state storage for computers. Those semiconductors have been in short supply in recent months as the artificial intelligence infrastructure boom requires massive amounts of both kinds of chips.

The high demand for memory has driven Micron shares higher, up 168% in 2025.

Micron is one of three companies that make the high-bandwidth memory needed for AI applications. For example, Micron’s memory is used in large quantities in AMD‘s latest AI chips.

Micron said it did $5.28 billion in cloud memory sales, which doubled on an annual basis. The chipmaker reported $2.38 billion in core data center sales, up only 4% year-over-year. The company said both business units were driven by higher pricing.

Earlier this month, Micron said it would stop selling memory and other parts directly to consumers, to preserve supply for AI chips and data centers.