Micron Technology, Inc. Reports Record Results for the Third Quarter of Fiscal 2026

About this update from Micron Technology, Inc.

Micron executes transformational Strategic Customer Agreements BOISE, Idaho, June 24, 2026 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its third quarter of fiscal 2026, which ended May 28, 2026. Fiscal Q3 2026 highlights Revenue of $41.46 billion versus $23.86 billion for the prior quarter and $9.30 billion for the same period last yearGAAP net income of $28.24 billion, or $24.67 per diluted shareNon-GAAP net income of $28.86 billion, or $25.11 per diluted shareOperating cash flow of $25.39 billion versus $11.90 billion for the prior quarter and $4.61 billion for the same period last year “Micron’s record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era,” said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. “Micron is investing at record levels in technology, products and supply to address our customers’ rapidly growing demand. We believe our multi-year Strategic Customer Agreements will significantly enhance the durability and predictability of Micron’s strong financial performance.” Quarterly Financial Results GAAP(1) Non-GAAP(2)(in millions, except per share amounts)FQ3-26FQ2-26FQ3-25 FQ3-26FQ2-26FQ3-25 Revenue$41,456 $23,860 $9,301 $41,456 $23,860 $9,301 Gross margin 35,056 17,755 3,508 35,199 17,876 3,623 Percent of revenue 84.6% 74.4% 37.7% 84.9% 74.9% 39.0%Operating expenses 1,738 1,620 1,339 1,518 1,421 1,133 Operating income 33,318 16,135 2,169 33,681 16,455 2,490 Percent of revenue 80.4% 67.6% 23.3% 81.2% 69.0% 26.8%Net income 28,243 13,785 1,885 28,857 14,021 2,181 Diluted earnings per share (EPS) 24.67 12.07 1.68 25.11 12.20 1.91 For the third quarter of 2026, investments in capital expenditures, net(2) were $7.1 billion and adjusted free cash flow(2) was $18.3 billion. Micron ended the quarter with cash, marketable investments, and restricted cash of $30.2 billion. On June 24, 2026, Micron’s Board of Directors declared a quarterly dividend of $0.15 per share, payable in cash on July 21, 2026, to shareholders of record as of the close of business on July 6, 2026. Quarterly Business Unit Financial Results FQ3-26FQ2-26FQ3-25 Cloud Memory Business Unit Revenue$13,769 $7,749 $3,386 Gross margin 83% 74% 58%Operating margin 78% 66% 46% Core Data Center Business Unit Revenue$11,524 $5,687 $1,530 Gross margin 87% 74% 38%Operating...

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