Micron Technology reported record fiscal fourth-quarter revenue of $54.23 billion, up from $41.46 billion in the previous quarter and $11.32 billion during the same period a year earlier.
For the quarter ended September 3, 2026, Micron reported GAAP net income of $37.70 billion, or $32.87 per diluted share, and non-GAAP net income of $38.40 billion, or $33.42 per diluted share.
Operating cash flow reached $43.97 billion, compared with $25.39 billion in the preceding quarter and $5.73 billion in the year-earlier period.
For the full fiscal year, Micron generated $133.19 billion in revenue, compared with $37.38 billion in fiscal 2025. GAAP net income was $84.97 billion, or $74.33 per diluted share, while non-GAAP net income reached $86.76 billion, or $75.52 per diluted share. Full-year operating cash flow totaled $89.68 billion.
Micron’s GAAP gross margin for fiscal Q4 reached 86.8%, while GAAP operating income totaled $43.75 billion. For the full year, GAAP gross margin was 80.7% and GAAP operating income totaled $99.34 billion.
Capital expenditures, net, were $10.77 billion for the fourth quarter and $27.37 billion for fiscal 2026, while adjusted free cash flow reached $33.20 billion for the quarter and $62.31 billion for the year. Micron ended the fiscal year with $73.48 billion in cash, marketable investments and restricted cash.
The Core Data Center Business Unit generated $18.00 billion in quarterly revenue, with a 90% gross margin and 85% operating margin. Cloud Memory Business Unit revenue totaled $16.28 billion, while Mobile and Client Business Unit revenue reached $13.11 billion.
For the first quarter of fiscal 2027, Micron expects revenue of approximately $61.5 billion, plus or minus $1.5 billion, reflecting continued expectations for strong AI-driven memory demand.
Micron also declared a $0.15-per-share quarterly dividend, payable October 29, 2026, to shareholders of record as of October 14.
KEY QUOTES:
“Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027. AI is becoming Super Intelligence (SI), and memory enhances this intelligence and the competitiveness of our customers’ platforms. We are increasing our investments in technology, products and manufacturing to help drive SI forward with our customers, and our Strategic Customer Agreements provide added confidence in the durability of Micron’s financial performance.”
Sanjay Mehrotra, Chairman and CEO of Micron Technology
