Micron Technology, Inc. (MU) Announced Q2 2026 Earnings on March 18, 2026, Reporting no explicit revenue or profit figures in the provided transcript

Management did not explicitly state total revenue or profit figures for the quarter, but CFO Mark Murphy noted that "both DRAM and NAND pricing was up strongly" and that both segments grew volume sequentially.

The company updated its financial investments, noting "we increased our outlook on CapEx to over $25 billion" for fiscal year 2026, up from $20 billion.

Management expects fourth quarter operating expenses to be close to $1.6 billion, and start-up costs for new facilities to be $100 million to $200 million per quarter starting in the next quarter or so.

Micron discussed its ongoing strategy to manage supply and demand, including adding cleanroom space in Singapore and ramping the Powerchip Tongluo facility.

Management stated that meaningful supply from these cleanroom projects will not impact the market until fiscal 2028.

Chief Business Officer Sumit Sadana highlighted very robust demand for NAND, pointing out that "AI servers are using a huge amount of SSDs" and concluding that "our supply is nowhere close to being able to meet the demand that we see for the foreseeable future." The company expects tight supply conditions to continue beyond 2026.

Regarding forward guidance and product updates, Micron assumes "some modest growth, volume growth in third quarter for both DRAM and NAND." On the product side, management announced they are "the first company in the world to have a Gen6 SSD in the market," which works well with NVIDIA systems.

Additionally, the company reported strong execution on High Bandwidth Memory, noting that HBM3E 12-high continues to execute well in high volume and that HBM4 is experiencing "an even faster yield ramp than HBM3E 12-high."