Micron fourth-quarter profit rises to $37.7 billion on record revenue

Micron Technology Inc. (MU) said Tuesday that its fourth-quarter net income reached $37.70 billion, or $32.87 per diluted share, for the period ended September 3, 2026.

Here's how the company did:

• Revenue: $54.23 billion vs. $11.32 billion a year earlier
• GAAP net income: $37.70 billion vs. $3.20 billion a year earlier
• Non-GAAP net income: $38.40 billion vs. $3.47 billion a year earlier
• Operating cash flow: $43.97 billion vs. $5.73 billion a year earlier

Full-year revenue reached $133.19 billion, compared to $37.38 billion a year earlier. GAAP net income for the full year was $84.97 billion, or $74.33 per diluted share, up from $8.54 billion, or $7.59 per diluted share, a year earlier. Non-GAAP net income for the full year totaled $86.76 billion, or $75.52 per diluted share.

"Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027," said Sanjay Mehrotra, Chairman and CEO of Micron Technology. "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."

Here's how other key Micron segments did during the quarter:

• Cloud Memory Business Unit: Revenue of $16.28 billion, with an 83% gross margin and 76% operating margin
• Core Data Center Business Unit: Revenue of $18.00 billion, with a 90% gross margin and 85% operating margin
• Mobile and Client Business Unit: Revenue of $13.11 billion, with a 90% gross margin and 88% operating margin
• Automotive and Embedded Business Unit: Revenue of $6.82 billion, with an 84% gross margin and 79% operating margin

For the first quarter of fiscal 2027, the company expects GAAP diluted earnings per share of $37.84 plus or minus $1.00, and non-GAAP diluted earnings per share of $38.15 plus or minus $1.00. Operating expenses are projected to be approximately $2.31 billion on a GAAP basis and approximately $2.06 billion on a non-GAAP basis.

On September 30, 2026, Micron's Board of Directors declared a quarterly dividend of $0.15 per share, payable in cash on October 29, 2026, to shareholders of record as of the close of business on October 14, 2026. The company ended the year with cash, marketable investments, and restricted cash of $73.48 billion.