Micron said on Sept. 30 local time that fourth-quarter revenue for fiscal 2026 (June–August) reached a record $54.23 billion. That was nearly a fourfold surge from $11.32 billion a year earlier and topped the London Stock Exchange Group (LSEG) consensus of $51.07 billion. Adjusted earnings per share came in at $33.42, also beating the $31.61 estimate.
Annual revenue jumped 256% to $133.19 billion from $37.38 billion a year earlier. Micron guided first-quarter fiscal 2027 revenue of $61.5 billion and adjusted EPS of $38.15, above LSEG estimates of $57 billion and $35.40.
The core data center business drove the record quarter with $18 billion in revenue, more than an 11-fold surge from $1.577 billion a year earlier. Data center expansion has sharply lifted demand for AI servers and HBM. Micron is currently building new chip plants in New York state and in Boise, Idaho, where it is headquartered. Construction on the New York plant began in January, and the first new Boise fab is scheduled to start operating next year.
Chief Executive Sanjay Mehrotra signaled expectations for even stronger results in fiscal 2027. "AI is advancing toward superintelligence, and memory strengthens that intelligence and the competitiveness of customer platforms," he said. "We are increasing investment in technology, products and manufacturing to advance superintelligence together with our customers, and strategic customer agreements are giving us confidence that Micron's financial performance will be even more robust." Under an SCA, customers lock in and reserve memory purchase volumes in advance.
Despite the record results, Micron shares were down 0.48% in after-hours trading as of 5:47 p.m. Eastern time. The stock rose slightly right after the release before reversing to a decline of more than 1%, and is now modestly lower.
On a conference call following the results, Micron warned that while revenue growth will continue in the first quarter, margins could narrow. The company cited higher labor costs as one reason. "We decided to raise bonuses," Chief Financial Officer Mark Murphy said, adding that bonuses are "a significant factor in the gross margin outlook."
Micron said its fourth-quarter adjusted gross margin was 87%, above the market's 86.2% forecast. For the current quarter it guided 86.3%, below both the prior quarter and the market consensus of 86.7%.
The HBM shortage has spilled over into conventional memory used in computers and other devices, lifting margins at Micron and its peers. But like Samsung Electronics and SK hynix, Micron now faces the issue of higher bonus payments. On Sept. 11, the company said it plans to pay employees in Taiwan bonuses equivalent to 35 to 68 months of fiscal 2026 salary. The minimum cash payout is 1.7 million Taiwan dollars, or about 72.37 million won.
