Micron Technology · 2025-03-20
Micron Technology (MU) Q2 FY2025 Earnings Release: HBM revenue crossed $1B and data-center DRAM became the core signal.
Micron reported fiscal Q2 2025 revenue of $8.05B.; HBM revenue crossed the $1B milestone in fiscal Q2.; Non-GAAP diluted EPS was $1.56, with non-GAAP gross margin near 37.9%.; The company framed the next quarter around stronger AI demand and tight supply.
Micron reported fiscal Q2 2025 revenue of $8.05B.
HBM revenue crossed the $1B milestone in fiscal Q2.
Non-GAAP diluted EPS was $1.56, with non-GAAP gross margin near 37.9%.
The company framed the next quarter around stronger AI demand and tight supply.
Reported data
MU's quarter is about pricing power, not just revenue
Micron reported fiscal Q2 2025 revenue of $8.05B.
The useful read was not only growth; it was the mix shift toward AI memory.
HBM revenue crossed the $1B milestone in fiscal Q2.
HBM became the clearest proof that AI demand was changing MU's revenue quality.
Non-GAAP diluted EPS was $1.56, with non-GAAP gross margin near 37.9%.
Margins were recovering, but the stock still needed proof that pricing could keep improving.
The company framed the next quarter around stronger AI demand and tight supply.
Forward estimates depended on whether HBM and data-center DRAM could keep absorbing supply.
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