Micron Posts Record Q4 Fiscal 2026 Revenue of $54.23B on AI Memory Demand, Guides Q1 Above Estimates

Micron Technology (MU) reported fiscal fourth-quarter revenue of $54.23 billion on Wednesday, up 379% year over year, as AI-linked memory demand drove records in revenue, gross margin and earnings per share. 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 diluted share. Operating cash flow reached $43.97 billion. The Core Data Center Business Unit generated $18.0 billion in quarterly revenue, up 56% sequentially, at a 90% gross margin. DRAM revenue was $39.77 billion, or 73% of total, with average selling prices up in the high-teens percentage range quarter over quarter. NAND contributed $14.10 billion, or 26% of revenue, with prices up about 30% sequentially. Full-year fiscal 2026 revenue was $133.19 billion, up 256%, with GAAP net income of $84.97 billion, or $74.33 per diluted share. Micron guided first-quarter fiscal 2027 revenue to $61.5 billion, plus or minus $1.5 billion, and non-GAAP diluted EPS of $38.15, plus or minus $1.00. The board declared a quarterly dividend of $0.15 per share, payable October 29.