Micron impresses with $54.2 billion in Q4 revenue

Micron reports Q4 revenue up 379% from a year earlier.
Net income rockets 12X YoY to $37.7 billion in the fourth quarter.
Gross margin hits 86.8% in Q4, surpassing previous guidance.
Management expects $61.5 billion in fiscal Q1 2027 revenue.

Clay Webster FXStreet

Micron Technologies (MU) reported a beat on the top and bottom lines in the fiscal fourth quarter afterhours on Wednesday.

Micron earned $33.42 in adjusted EPS on $54.23 billion in revenue in Q4. Those figures easily surpassed Wall Street's consensus of $31.82 in adjusted EPS (+$1.60) and $51.5 billion in revenue (+$2.73 billion). That sales figure surged 379% YoY, even higher than the annual growth rate in the prior quarter.

Gross margin, possibly the most important figure in the release, arrived at 86.8%, above the company's 86.0% projection and the previous quarter's 84.6% figure. That led the operating margin to rise by three-tenths of a percent to 80.7%.

Micron earned $37.7 billion in the quarter, about 12 times the $3.2 billion earned in the same quarter a year ago. That figure was also about $9.5 billion higher than the third fiscal quarter that ended in August.

Micron by business segment

Micron's Core Data Center segment reported revenue of $18 billion, up from $11.5 billion in Q3 (up 36% QoQ). Gross margin also rose from 87% to 90% on a quarterly basis, but operating margin declined from 78% to 76% over that period.

The Cloud Memory unit saw revenue climb from $13.8 billion in Q3 to $16.3 billion in Q4, but gross margin remained flat at 83%.

The Mobile & Client unit reported revenue of $13.1 billion, up from $11.5 billion in Q3. Gross margin expanded from 87% to 90%, in line with the Data Center unit, and operating margin climbed two percentage points to 88%.

The Automotive & Embedded segment saw revenue surge 47% QoQ.

Micron financials by business segment / Fiscal Q4 2026

Micron outlook and stock chart

Micron's outlook for fiscal Q1 2027 also showed surprising upside. The company projects its revenue midpoint at $61.5 billion in Q1 and $37.84 in diluted earnings per share.

The market seems unsure how to trade the stock afterhours however. MU stock closed near $1,065 on Wednesday, shot down to $1,040 afterhours before reaching a range high at $1,078.

Micron Q4 2026 earnings — MU 5-minute stock chart / September 30, 2026

Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

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