Micron Technology's revenue in the third quarter of fiscal year 2025 reached US$9.3 billion, a year-on-year increase of 36.56% and a month-on-month increase of 15.50%, setting a record high. The company said that all terminal markets have achieved revenue growth. GAAP gross profit margin is 37.7%, non-GAAP gross profit margin is 39.0%, GAAP operating profit margin is 23.3%, and non-GAAP operating profit margin is 26.8%, all higher than the previous quarter and that of last year's same period.
Source from Internet
Sanjay Mehrotra, chairman, president, and CEO of Micron Technology, said that, driven by record DRAM revenue, Micron achieved record revenue in the third fiscal quarter, with HBM revenue increasing by nearly 50% quarter-on-quarter. Data center revenue more than doubled year-on-year, setting a quarterly record, and consumer-oriented end markets grew strongly quarter-on-quarter.
This data also reflects the popularity of AI infrastructure construction. AI chips from Nvidia to AMD require Micron's memory products, and cloud service providers such as Google's investment in AI infrastructure this year have further driven this demand.
Micron Shows a Healthy Cash Flow In 2025Q3 Fiscal
Operating cash flow was $4.61 billion, a significant increase both quarter-on-quarter and year-on-year, and adjusted free cash flow was $1.95 billion, showing strong cash generation capabilities. The company's cash and equivalents at the end of the period were $12.22 billion, providing sufficient financial support for future capital expenditures and technology investments.
Capital expenditures in the third quarter reached $2.66 billion, reflecting the company's large-scale capacity expansion to meet AI needs. Research and development expenses were $965 million, up 7.5% from $898 million in the previous quarter and up 13.5% from $850 million in the same period last year. It shows Micron's continued investment in technology research and development to maintain its leading position in memory technology.
The consumer market grew strongly, and consumer-oriented terminal markets achieved strong month-on-month growth, indicating that Micron's market share and influence in the consumer electronics field are also expanding.
Micron expects its revenue scale in the fourth quarter of fiscal year 2025 to reach $10.7±3 billion, a further increase of about 15% compared with the third quarter.
About DDR4 Memory Chips
According to market feedback, the spot price of DDR4 memory chips continues to soar. On the 23rd, the price of a DDR4 16Gb chip was twice as expensive as DDR5 memory with the same 16Gb capacity. This is the first time that the price of the previous generation of DRAM products is 100% higher than the latest. In just two weeks, the spot price of DDR4 has risen by about 50%. Since this quarter, the price of each capacity has soared by more than two times. As the spot price of DDR4 continues to increase, the subsequent contract price may also rise. Since the original manufacturer has scheduled to withdraw from the mid- and low-end market, the supply exceeding demand will continue for some time.