Micron Technology (MU) Q4 2026 Earnings
Non-GAAP adjustments include $364 million in stock-based compensation, $500 million in patent license charges, $9 million loss on debt prepayments, $22 million in other charges, partially offset by $198 million in estimated tax effects
How Did MU Stock React to Q4 2026 Earnings?
Did MU Beat Earnings? Q4 2026 Results
Yes. Micron Technology reported Q4 2026 earnings of $33.42 a share on Sep 30, 2026, beating the $31.35 consensus estimate by 6.6%. Revenue was $54.2B against a $51.0B estimate.
Micron Technology posted a decisive beat across the board in its fiscal fourth quarter of 2026, with explosive AI-driven demand for memory and storage fueling results that left consensus estimates well behind. Adjusted non-GAAP EPS of $33.42 cleared the $31.35 analyst consensus by 6.59%, marking the eighth consecutive quarter in which Micron has beaten EPS expectations, while revenue of $54.23 billion topped the $50.97 billion estimate by 6.39% and represented a 379.3% increase from the year-ago period. The single most powerful force behind the quarter was surging data center appetite for high-bandwidth memory and storage solutions tied to AI infrastructure buildout, which drove non-GAAP gross margin to 87.0% compared to 45.7% a year prior. Advanced semiconductor packaging capacity constraints across the broader industry have only amplified Micron's pricing power in this environment. Looking ahead, management guided fiscal Q1 2027 revenue to $61.50 billion and non-GAAP EPS to $38.15, signaling the momentum shows little sign of moderating.
- AI-driven demand across cloud, data center, and edge applications
- Strong operational execution and gross margin expansion
- Server LPDDR SOCAMM portfolio revenue more than doubled sequentially in Q4
- Strategic Customer Agreements providing demand visibility and durability
“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.”
Micron Technology CEO, on the earnings call
What Is Micron Technology's Outlook?
For fiscal Q1 2027, Micron guides revenue of $61.5 billion ± $1.5 billion, GAAP gross margin of approximately 85.95%, non-GAAP gross margin of approximately 86.25%, GAAP operating expenses of approximately $2.31 billion, non-GAAP operating expenses of approximately $2.06 billion, GAAP diluted EPS of $37.84 ± $1.00, and non-GAAP diluted EPS of $38.15 ± $1.00 based on approximately 1.15 billion diluted shares. Management expects an even stronger fiscal 2027 driven by AI demand and Strategic Customer Agreements.
MU YoY Financials
| Metric | Q4 2026 | Q4 2025 | Year over year |
|---|---|---|---|
| Revenue | $54.2B | $11.3B | +379.3% |
| Gross Profit | $47.0B | $5.1B | +830.9% |
| Operating Income | $43.8B | $3.8B | +1,065.5% |
| Net Income | $37.7B | $3.2B | +1,077.8% |
MU Revenue by Segment
When Does Micron Technology Report Next?
Figures from SEC filings and company reports. Not investment advice.