Micron Posts Record Fiscal 2026 Revenue and Profit on AI-Driven Memory Demand

Micron Technology reported record fourth-quarter and full-year fiscal 2026 results, according to an earnings release filed with the Securities and Exchange Commission on September 30, 2026.

Fourth-quarter revenue reached $54.23 billion, up from $41.46 billion in the prior quarter and $11.32 billion a year earlier. GAAP net income for the quarter was $37.70 billion, or $32.87 per diluted share, while non-GAAP net income was $38.40 billion, or $33.42 per diluted share.

For the full fiscal year, revenue totaled $133.19 billion compared with $37.38 billion in fiscal 2025. Annual GAAP net income was $84.97 billion, or $74.33 per diluted share, and non-GAAP net income was $86.76 billion, or $75.52 per diluted share.

Operating cash flow was $43.97 billion for the quarter and $89.68 billion for the year. Capital expenditures, net, totaled $10.77 billion in the quarter and $27.37 billion for the year, while adjusted free cash flow was $33.20 billion for the quarter and $62.31 billion for the year. The company ended the year with cash, marketable investments, and restricted cash of $73.48 billion.

Micron's Board of Directors declared a quarterly dividend of $0.15 per share, payable October 29, 2026, to shareholders of record as of October 14, 2026.

By business unit, fourth-quarter revenue was $16.28 billion for Cloud Memory, $18.00 billion for Core Data Center, $13.11 billion for Mobile and Client, and $6.82 billion for Automotive and Embedded.

Chairman and CEO Sanjay Mehrotra said Micron delivered record fiscal 2026 results and expects an even stronger fiscal 2027, citing memory's role in enhancing artificial intelligence and the durability provided by the company's Strategic Customer Agreements.

For the first quarter of fiscal 2027, Micron guided revenue of $61.5 billion plus or minus $1.5 billion, GAAP gross margin of approximately 85.95%, and GAAP diluted earnings per share of $37.84 plus or minus $1.00.

The release also detailed product developments, including sampling of 512GB high-capacity DDR5 RDIMM modules, completed qualifications of 8,800 MT/s server RDIMM modules, and design wins with every Tier 1 OEM customer for AI workstation products.

Finazon · prior-day close, indicative (IEX-derived, not the official close) · Sep 29, 2026