Micron Earned $24.67 Per Share Last Quarter. Its Dividend Is Still 15 Cents. Something Has to Give.
Yahoo Finance ·
Every so often, a company's numbers stop making sense next to its soaring profits. Micron Technology ( MU 5.68% ) is having one of those moments. In its fiscal third quarter (the period ended May 28, 2026), the memory maker earned $24.67 per share on a generally accepted accounting principles (GAAP) basis. Its quarterly dividend, declared the same week, was $0.15 -- the same $0.15 it declared last quarter. A company earning that much cannot keep paying that little forever. The quarter was a blowout in the truest sense. Revenue rose 346% year over year to a record $41.46 billion, and net income reached $28.24 billion, powered by demand for the high-bandwidth memory that goes into AI accelerators. Management guided for even more in the current quarter: about $50 billion in revenue. To grasp the scale, Micron earned more in this single quarter than it did in some entire years of the last cycle. Revenue of $41.46 billion was up from $9.3 billion a year earlier, and that guide of $50 billion would be another 20% jump on top of it. High-bandwidth memory -- the specialized chips stacked next to AI processors -- is booked out well into next year, which is why the company can guide with such unusual confidence.
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