Micron Technology, Inc. stock research
FY2025 Q3
Micron Technology (MU) Gross Margin — Quarter Ended May 29, 2025
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved relative to both periods, reflecting a stronger relationship between revenue and cost of revenue.
Gross margin takeaway
Quarter ended May 29, 2025 · FY2025 Q3
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved relative to both periods, reflecting a stronger relationship between revenue and cost of revenue.
- The strongest observable margin driver is the increase in gross profit relative to revenue, as gross margin rose from the prior quarter and the year-ago quarter. This indicates that revenue grew faster than cost of revenue.
- Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all higher. Compared to the same quarter one year earlier, all three metrics were also higher, with gross margin showing a notable improvement.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
37.7%
Gross profit
$3.5B
Revenue
$9.3B
Cost of revenue
$5.8B
Quarter-over-quarter change
+0.9 pts
Year-over-year change
+10.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Aug 29, 2024 | $7.8B | $2.7B | $5.0B | 35.3% |
| Nov 28, 2024 | $8.7B | $3.3B | $5.4B | 38.4% |
| Feb 27, 2025 | $8.1B | $3.0B | $5.1B | 36.8% |
| May 29, 2025 | $9.3B | $3.5B | $5.8B | 37.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Feb 27, 2025
+0.9 pts
Year-over-year change
May 30, 2024
+10.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the increase in gross profit relative to revenue, as gross margin rose from the prior quarter and the year-ago quarter. This indicates that revenue grew faster than cost of revenue.
Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all higher. Compared to the same quarter one year earlier, all three metrics were also higher, with gross margin showing a notable improvement.
Monitor the trend in cost of revenue relative to revenue, as its increase could pressure gross margin if revenue growth slows.