Micron posts record Q4 revenue of $54.23B, up 379% YoY, and guides Q1 FY2027 to $61.5B

Micron Technology on September 30 reported record results for the fourth quarter and full fiscal year 2026. Revenue for the quarter ended September 3 was $54.229 billion, up 379% from $11.315 billion a year earlier and ahead of the $41.456 billion it posted in the prior quarter. Analysts had expected roughly $51.07 billion.

Record profit and margins

GAAP net income for the quarter reached $37.701 billion, or $32.87 per diluted share, compared with $28.243 billion in the prior quarter and $3.201 billion a year earlier. GAAP gross margin rose to 86.8% from 44.7%, and operating income reached $43.751 billion. Operating cash flow was $43.97 billion, with adjusted free cash flow of $33.20 billion.

AI-driven memory demand

The company attributes the surge to demand for the high-bandwidth memory that AI systems require. Full fiscal 2026 revenue reached $133.188 billion versus $37.378 billion a year earlier, and net income rose to $84.969 billion. Every business unit grew year over year in the quarter: Core Data Center revenue reached $18.002 billion, Cloud Memory $16.283 billion, Mobile and Client $13.114 billion, and Automotive and Embedded $6.824 billion.

“Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027,” said Sanjay Mehrotra, Chairman and CEO of Micron. “AI is becoming Super Intelligence, and memory enhances this intelligence and the competitiveness of our customers’ platforms.”

Outlook and dividend

For the first quarter of fiscal 2027 Micron guided revenue to $61.5 billion, plus or minus $1.5 billion. It expects GAAP diluted earnings of $37.84 per share and a gross margin of approximately 85.95%. The board declared a quarterly dividend of $0.15 per share, payable October 29. The company ended the year with $73.48 billion in cash, marketable investments and restricted cash.