Press release
Micron Technology, Inc. Reports Results for the First Quarter of Fiscal 2026
AI demand acceleration and Micron execution drive record fiscal Q1 results, including highest ever free cash flow BOISE, Idaho, Dec. 17, 2025 (GLOBE NEWSWIRE)
About this update from Micron Technology, Inc.
[{"type":"text","content":"AI demand acceleration and Micron execution drive record fiscal Q1 results, including highest ever free cash flow\nBOISE, Idaho, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its first quarter of fiscal 2026, which ended November 27, 2025. Fiscal Q1 2026 highlights Revenue of $13.64 billion versus $11.32 billion for the prior quarter and $8.71 billion for the same period last yearGAAP net income of $5.24 billion, or $4.60 per diluted shareNon-GAAP net income of $5.48 billion, or $4.78 per diluted shareOperating cash flow of $8.41 billion versus $5.73 billion for the prior quarter and $3.24 billion for the same period last year “In fiscal Q1, Micron delivered record revenue and significant margin expansion at the company level and also in each of our business units,” said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. “Our Q2 outlook reflects substantial records across revenue, gross margin, EPS and free cash flow, and we anticipate our business performance to continue strengthening through fiscal 2026. Micron’s technology leadership, differentiated product portfolio, and strong operational execution position us as an essential AI enabler, and we are investing to support our customers’ growing need for memory and storage.” Quarterly Financial Results(in millions, except per share amounts)GAAP(1) Non-GAAP(2)FQ1-26FQ4-25FQ1-25 FQ1-26FQ4-25FQ1-25 Revenue$13,643 $11,315 $8,709 $13,643 $11,315 $8,709 Gross margin 7,646 5,054 3,348 7,753 5,169 3,441 Percent of revenue 56.0% 44.7% 38.4% 56.8% 45.7% 39.5%Operating expenses 1,510 1,400 1,174 1,334 1,214 1,047 Operating income 6,136 3,654 2,174 6,419 3,955 2,394 Percent of revenue 45.0% 32.3% 25.0% 47.0% 35.0% 27.5%Net income 5,240 3,201 1,870 5,482 3,469 2,037 Diluted earnings per share 4.60 2.83 1.67 4.78 3.03 1.79 For the first quarter of 2026, investments in capital expenditures, net(2) were $4.5 billion and adjusted free cash flow(2) was $3.9 billion. Micron ended the year with cash, marketable investments, and restricted cash of $12.0 billion. On December 17, 2025, Micron’s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on January 14, 2026, to shareholders of record as of the close of business on December 29, 2025. Quarterly Business Unit Financial Results FQ1-26FQ4-25FQ1-2...