MU Micron Technology (MU) Q4 FY25 earnings call
Micron Technology delivered a strong Q4 FY25, driven by robust HBM performance and significant margin expansion, with gross margins surpassing mid-FY22 levels. The company's strategic focus on high-value data center products, including HBM and high-capacity SSDs, is reshaping its portfolio and driving profitability. While the NAND business saw bit declines and a strategic exit from mobile NAND, the overall industry is tightening, particularly in DRAM, setting a positive outlook for pricing and margins.
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MU operating KPIs by quarter
| KPI | May 2026 Q3 FY26 | Aug 2026 Q4 FY26 | Change vs prior quarter |
|---|---|---|---|
| Remaining performance obligation (RPO) | $5B+RPO at the end of fiscal Q3 was over $5 billion.Source: earnings call transcript | ~$150BTo date, we have signed 26 SCAs in total, and our remaining performance obligations, or RPO, is approximately $150 billion.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.