Micron reported better-than-expected quarterly results on Wednesday, capping a fiscal year in which demand for AI infrastructure turned into a major tailwind for the memory chip maker. The company posted adjusted earnings per share of $33.42 on revenue of $54.23 billion, both comfortably ahead of LSEG consensus estimates of $31.61 and $51.07 billion, respectively.
The standout figure was data center revenue, which jumped 11-fold compared with the same period last year, underscoring how AI workloads are driving demand for high-bandwidth memory and storage. Management also issued strong guidance for the coming quarter, signaling that the AI-driven cycle still has momentum.
Investors responded positively, with shares edging higher in extended trading. The results reinforce Micron's position as a key supplier to the AI buildout, though the modest stock reaction suggests much of the good news may have already been priced in.