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Micron reported fiscal fourth-quarter 2026 revenue of $54.229 billion and non-GAAP diluted earnings per share of $33.42, then forecast $61.5 billion in revenue, plus or minus $1.5 billion, for the next quarter. The report came after the market close on September 30; on October 1, Micron shares fell more than 2% early in the session before recovering to finish up 3%, according to contemporaneous market coverage.
What Micron reported for fiscal Q4 2026
Micron Technology’s fiscal fourth quarter ended September 3, 2026. The company released its results on September 30. Revenue reached $54.229 billion, up from $41.456 billion in the preceding quarter and $11.315 billion in the year-earlier quarter. These are company-reported figures in its earnings release.
| Measure | Fiscal Q4 2026 reported result |
|---|---|
| Revenue | $54.229 billion |
| GAAP net income | $37.701 billion |
| GAAP diluted EPS | $32.87 |
| Non-GAAP net income | $38.398 billion |
| Non-GAAP diluted EPS | $33.42 |
| Operating cash flow | $43.97 billion |
GAAP and non-GAAP earnings are different measures, so the EPS figures should not be treated as interchangeable. Micron’s fiscal 2026 results included $133.188 billion in revenue, GAAP diluted EPS of $74.33, non-GAAP diluted EPS of $75.52, and operating cash flow of $89.68 billion.
Revenue by business unit
Micron reported Q4 revenue of $16.283 billion from Cloud Memory, $18.002 billion from Core Data Center, $13.114 billion from Mobile and Client, and $6.824 billion from Automotive and Embedded. The company also highlighted product sampling and shipments for data-center applications; those updates describe its business activity, not consumer product recommendations.
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What Micron forecast for Q1 FY2027
Micron’s company guidance for its first quarter of fiscal 2027 was:
| Measure | Q1 FY2027 guidance |
|---|---|
| Revenue | $61.5 billion, plus or minus $1.5 billion |
| GAAP diluted EPS | $37.84, plus or minus $1.00 |
| Non-GAAP diluted EPS | $38.15, plus or minus $1.00 |
| Gross margin | Approximately 85.95% GAAP; approximately 86.25% non-GAAP |
The guidance is forward-looking, not a reported result. Micron cautioned that actual results could differ materially from its projections. The company characterized its fiscal 2026 performance as a record and said it expected a stronger fiscal 2027; that is management’s outlook, not independent confirmation of future demand or earnings.
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Why the shares reversed higher on October 1
The share-price move occurred the trading day after Micron issued its earnings release. Investing.com reported that the stock fell more than 2% after the October 1 opening bell, recovered during the session, and closed up 3%. The Associated Press also reported a 3% gain and described Micron’s profit and forecast as exceeding analyst expectations. Neither market report establishes a single, definitive reason for the intraday reversal.
The “beat-and-raise” characterization reflects reports that the results and outlook topped expectations, but the available coverage does not provide one consistent analyst-consensus figure to compare with Micron’s results. The reversal is a one-session price path, not evidence that investors reached a durable consensus about the company’s prospects.
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Investing.com noted that Micron’s current-quarter gross-margin outlook was somewhat softer and that the company forecast higher operating expenses for fiscal 2027. Those considerations sit alongside the higher revenue and EPS outlook; they do not by themselves explain the day’s share-price movement.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Cash generation and investment
Micron reported $10.77 billion in net capital expenditures for Q4 FY2026 and $27.37 billion for the full fiscal year. It also reported adjusted free cash flow—Micron’s company-defined non-GAAP measure—of $33.20 billion in Q4 and $62.31 billion for FY2026. The figures put the scale of investment alongside cash generation without implying that either measure alone predicts future performance.
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