Micron Technology reports $41.46B revenue, GAAP net income $28.24B for fiscal Q3 2026

Micron Technology reported record results for fiscal third quarter 2026, with revenue of $41.46 billion and GAAP net income of $28.24 billion (diluted EPS $24.67). Non-GAAP net income was $28.86 billion (non‑GAAP diluted EPS $25.11) and operating cash flow was $25.39 billion for the quarter. The company announced a quarterly dividend of $0.15 per share and provided guidance for fiscal Q4 2026 targeting roughly $50.0 billion in revenue and approximately 86% gross margin.

Financial Highlights

Revenue: $41.46 billion for fiscal Q3 2026 (prior quarter $23.86 billion; year-ago $9.30 billion).
GAAP gross profit: $35.06 billion; GAAP gross margin: 84.6%.
GAAP operating income: $33.32 billion; operating margin 80.4%.
GAAP net income: $28.24 billion; diluted EPS (GAAP) $24.67. Non-GAAP net income: $28.86 billion; non‑GAAP diluted EPS $25.11.
Operating cash flow: $25.39 billion; investments in capital expenditures, net: $7.08 billion; adjusted free cash flow: $18.30 billion. Cash, marketable investments, and restricted cash: $30.2 billion at quarter end.

Business Highlights

Strong demand across AI and data center markets drove significant sequential and year-over-year revenue expansion, with the Cloud Memory and Core Data Center business units showing notable growth.
Cloud Memory Business Unit revenue: $13.77 billion with ~83% gross margin and ~78% operating margin for the quarter.
Core Data Center Business Unit revenue: $11.52 billion with ~87% gross margin and ~83% operating margin; Mobile and Client revenue: $11.52 billion with ~87% gross margin and ~86% operating margin.
Automotive and Embedded Business Unit revenue: $4.63 billion with ~79% gross margin and ~75% operating margin; 1-gamma LPDDR5 and automotive-ready products reached sampling and product readiness milestones.
Product and production milestones: HBM4 in high-volume shipments for a lead customer; HBM4E development progressing toward 2027 volume; high-volume production ramps for LP5X SOCAMM2 and Gen6 PCIe SSDs;…

Source