AI-driven memory shortages helped lift Micron's fiscal third-quarter gross margin to a company record, as revenue reached $41.46 billion and net income rose to $28.24 billion.
Micron's gross margin reached a record 84.9% in its fiscal third quarter, rising from 74.9% in the prior quarter and 39% a year earlier as AI-driven memory shortages strengthened pricing. The result topped Meta's 81.9% and Nvidia's 75% on the same profitability measure. Micron posted $41.46 billion in revenue and $28.24 billion in net income, while CFO Mark Murphy said the quarter set a company gross-margin record and CEO Sanjay Mehrotra forecast about 86% gross margin in fiscal Q4.