Micron said total revenue for Q3 2025 increased 15% from the prior quarter and 37% from Q3 2024. DRAM revenue increased 15% from the prior quarter and 51% from the prior-year quarter, while NAND revenue increased 16% and 4%, respectively, the company said.

1. 01

   Micron said total revenue for Q3 2025 increased 15% from the prior quarter and 37% from Q3 2024. DRAM revenue increased 15% from the prior quarter and 51% from the prior-year quarter, while NAND revenue increased 16% and 4%, respectively, the company said.

2. 02

   Micron said consolidated gross margin percentage was 38% for Q3 2025, compared to 37% for Q2 and 27% for Q3 2024. The company cited an increased mix of HBM and manufacturing cost reductions as factors in improved DRAM margins, and decreases in average selling prices as a factor in declined NAND margins.

3. 03

   Micron said it estimates capital expenditures for property, plant, and equipment, net of government incentives, to be approximately $14 billion in 2025. The company said it entered into direct funding agreements with the U.S. Department of Commerce on December 2024 for up to $6.1 billion in direct funding, and on June 11, 2025 entered into a direct funding agreement for up to $275 million to expand and modernize its fab in Manassas, Virginia.

4. 04

   Micron said cash and marketable investments totaled $12.21 billion as of May 29, 2025, and $3.50 billion was available to draw under its Revolving Credit Facility. For the first 9 months of 2025, expenditures for property, plant, and equipment were $10.20 billion, and the company had repurchased $7.19 billion of the $10 billion authorized for repurchase of common stock.

Key figures

Quarter ended May 29, 2025

Revenue

$9.3B

Operating income

$2.2B

Net income

$1.9B

EPS

$1.68

Gross profit

$3.5B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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