Micron Technology Inc (NASDAQ:MU) reported financial results for the second quarter of fiscal 2026 after the market close on Wednesday. Here’s a look at the key details from the print.

Micron Reports Blowout Q2 Results

Micron posted second-quarter revenue of $23.86 billion, well above analyst estimates of $19.94 billion, according to Benzinga Pro.

The semiconductor company reported adjusted earnings of $12.20 per share for the quarter, easily exceeding analyst estimates of $9.21 per share.

Total revenue was up approximately 196% on a year-over-year basis. Operating cash flow came in at $11.90 billion versus $8.41 billion in the prior quarter and $3.94 billion in the comparable quarter last year. The company generated $6.9 billion of adjusted free cash flow in the second quarter.

“Micron set new records across revenue, gross margin, EPS and free cash flow in fiscal Q2, driven by a strong demand environment, tight industry supply and our strong execution, and we expect significant records again in fiscal Q3,” said Sanjay Mehrotra, chairman, president and CEO of Micron.

“In the AI era, memory has become a strategic asset for our customers, and we are investing in our global manufacturing footprint to support their growing demand.”

Micron ended the quarter with $16.7 billion in cash, marketable investments and restricted cash.

Micron Issues Strong Forward Guidance

Micron sees third-quarter revenue of $33.5 billion, plus or minus $750 million, versus estimates of $23.8 billion. The company anticipates third-quarter adjusted earnings of $19.15 per share, plus or minus 40 cents, versus estimates of $11.70 per share.

The company’s board declared a quarterly dividend of 15 cents per share (30% increase), payable on April 14 to shareholders of record as of March 30.

Micron executives are scheduled to discuss the quarter on an earnings call at 4:30 p.m. ET.

Micron Shares Up After The Bell

MU Price Action: Micron shares were up 1.29% in after-hours on Wednesday, trading at $467.67 at the time of publication, according to Benzinga Pro.

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