Micron posts record Q4 revenue of $54.2 billion, guides Q1 sales near $61.5 billion

Micron Technology delivered another step-change quarter as AI-related memory demand kept lifting results. In a Wednesday release furnished on Form 8-K, the company said fiscal fourth-quarter revenue reached $54.23 billion for the period ended Sept. 3, up from $41.46 billion in the prior quarter and $11.32 billion a year earlier. GAAP net income was $37.70 billion, or $32.87 per diluted share; non-GAAP net income was $38.40 billion, or $33.42 per share.

For full fiscal 2026, revenue was $133.19 billion versus $37.38 billion a year earlier. GAAP net income came in at $84.97 billion, or $74.33 per diluted share, with non-GAAP net income of $86.76 billion, or $75.52 per share. Operating cash flow was $43.97 billion in the fourth quarter and $89.68 billion for the year. Adjusted free cash flow was $33.20 billion in the quarter and $62.31 billion for the year, after net capital expenditures of $10.77 billion and $27.37 billion, respectively. Cash, marketable investments, and restricted cash ended the year at $73.48 billion.

Chairman and CEO Sanjay Mehrotra said Micron delivered record fiscal 2026 results and expects an even stronger fiscal 2027, pointing to AI demand and Strategic Customer Agreements. By business unit in the fourth quarter, Core Data Center posted $18.00 billion of revenue, Cloud Memory $16.28 billion, Mobile and Client $13.11 billion, and Automotive and Embedded $6.82 billion.

Looking ahead, Micron guided fiscal first-quarter 2027 revenue to $61.5 billion ± $1.5 billion, with non-GAAP gross margin of about 86.25%, non-GAAP operating expenses of about $2.06 billion, and non-GAAP diluted EPS of $38.15 ± $1.00. The board declared a quarterly dividend of $0.15 per share, payable Oct. 29, 2026, to holders of record Oct. 14, 2026.

Shares of MU were about $1,065.11 in Wednesday’s session, down roughly 0.6% on the day and up about 238% year to date.

By the numbers

• Q4 revenue: $54.23 billion; GAAP EPS: $32.87; non-GAAP EPS: $33.42
• FY2026 revenue: $133.19 billion; GAAP EPS: $74.33; non-GAAP EPS: $75.52
• Q4 / FY adj. free cash flow: $33.20 billion / $62.31 billion
• Year-end cash & investments (incl. restricted): $73.48 billion
• FQ1-27 guide: revenue $61.5B ± $1.5B; non-GAAP EPS $38.15 ± $1.00
• Quarterly dividend: $0.15; payable Oct. 29, 2026

Sources

1. Micron Technology, Inc. Form 8-K (Item 2.02), accepted Sept. 30, 2026 4:02:22 p.m. ET, accession 0000723125-26-000018
2. Micron Technology, Inc. Form 8-K Exhibit 99.1 (earnings press release), accession 0000723125-26-000018

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