Micron Technology (MU) Earnings: Q4 Fiscal 2026 Results and Next Report Date

The quarter ended September 3, 2026 and Micron Technology published the results on September 30, 2026. Revenue and diluted EPS are shown against Q4 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Micron Technology reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Micron's fiscal year is the 52- or 53-week period ending on the Thursday closest to August 31. Fiscal 2026 contained 53 weeks; fiscal 2025 contained 52.
• Q4 fiscal 2026 GAAP results include $500 million of patent license charges, which Micron excludes from its non-GAAP figures.

Source: Micron Q4 fiscal 2026 results, September 30, 2026. Also in the Form 10-K for the fiscal year ended September 3, 2026. Figures as reported; checked against the release on November 10, 2026.

How Micron Technology splits revenue in its own release, under its own labels, for Q4 fiscal 2026 against Q4 fiscal 2025. Indented lines are parts of the line above them.

• Micron Technology's Cloud Memory Business Unit revenue was $16.3 billion in Q4 fiscal 2026, up 258% from $4.5 billion in Q4 fiscal 2025, 30% of total revenue.
• Micron Technology's Core Data Center Business Unit revenue was $18.0 billion in Q4 fiscal 2026, up 1042% from $1.6 billion in Q4 fiscal 2025, 33% of total revenue.
• Micron Technology's Mobile and Client Business Unit revenue was $13.1 billion in Q4 fiscal 2026, up 249% from $3.8 billion in Q4 fiscal 2025, 24% of total revenue.
• Micron Technology's Automotive and Embedded Business Unit revenue was $6.8 billion in Q4 fiscal 2026, up 376% from $1.4 billion in Q4 fiscal 2025, 13% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Micron gives its outlook as a table in the release. The GAAP lines are quoted below, based on approximately 1.15 billion diluted shares; on a non-GAAP basis it guided gross margin of approximately 86.25%, operating expenses of approximately $2.06 billion and diluted EPS of $38.15 ± $1.00.

In its Q4 fiscal 2026 release, Micron Technology said:

“Revenue $61.5 billion ± $1.5 billion”

“Gross margin Approximately 85.95%”

“Operating expenses Approximately $2.31 billion”

“Diluted earnings per share $37.84 ± $1.00”

Source: Micron Q4 FY26 release, Sep 30, 2026.

This is the company's own guidance as of Sep 30, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the MU forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP figures, each as first reported in that quarter's release.

Micron Technology's next report is expected around December 23, 2026, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q4 fiscal 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q4 fiscal 2026 (this page), reported Sep 30, 2026

Micron Technology's revenue was $54,229 million in Q4 fiscal 2026, the quarter ended September 3, 2026, against $41,456 million in the prior quarter and $11,315 million a year earlier. Micron reports four business units. In the quarter the Core Data Center Business Unit brought in $18,002 million, the Cloud Memory Business Unit $16,283 million, the Mobile and Client Business Unit $13,114 million and the Automotive and Embedded Business Unit $6,824 million. (Micron Q4 FY26 release, Sep 30, 2026)

Micron's 10-K defines the units by customer. Cloud Memory covers memory for large hyperscale cloud customers and HBM for all data center customers. Core Data Center covers storage for all data center customers, including data center SSDs and NAND components, plus memory for OEM data center, enterprise and NeoCloud customers. Mobile and Client serves phones and PCs, and Automotive and Embedded serves the automotive, industrial and consumer segments. (Micron Form 10-K, fiscal 2026, Oct 9, 2026)

Price did most of the work in fiscal 2026. Micron's total revenue for the year was $133,188 million, up 256%. DRAM sales rose 252% on an approximate 180% increase in average selling prices and a mid-20% range increase in bit shipments, and NAND sales rose 274% on an approximate 200% increase in average selling prices. DRAM was $100,679 million of the year's revenue and NAND $31,785 million. (Micron Form 10-K, fiscal 2026, Oct 9, 2026)

Micron's sales lean on a small group of buyers and one end market. In fiscal 2026 over half of total revenue came from its top ten customers, and approximately 60% of total revenue was concentrated in the data center end market. No single customer reached 10% of revenue in fiscal 2026, against one customer at 17% in fiscal 2025. (Micron Form 10-K, fiscal 2026, Oct 9, 2026)

In the third and fourth quarters of fiscal 2026 Micron signed strategic customer agreements: multi-year take-or-pay contracts with binding volume commitments, most with pricing that is subject to minimum and maximum bands. Customers paid deposits under them, and Micron received $12.75 billion of customer contract liability deposits in fiscal 2026. Noncurrent customer contract liabilities stood at $12,895 million on September 3, 2026, up from $568 million on May 28, 2026. (Micron Form 10-K, fiscal 2026, Oct 9, 2026; Micron Q4 FY26 release, Sep 30, 2026)

Micron's GAAP diluted EPS was $32.87 in Q4 fiscal 2026 and its non-GAAP EPS $33.42, a gap of $0.55 per share. The non-GAAP figure excludes stock-based compensation ($364 million), $500 million of patent license charges recognized in the quarter, a $9 million loss on debt prepayments and the estimated tax effects of those items. (Micron Q4 FY26 release, Sep 30, 2026; Micron Form 10-K, fiscal 2026, Oct 9, 2026)

Micron's share count rose slightly: diluted shares were 1,147 million in the quarter, against 1,131 million a year earlier. Micron repurchased 2.5 million shares for $650 million during fiscal 2026, none of them in the fourth quarter, and $2.16 billion of its 2018 repurchase authorization remained. The quarterly dividend went from $0.115 per share in the first two quarters of fiscal 2026 to $0.15 in the last two. (Micron Q4 FY26 release, Sep 30, 2026; Micron Form 10-K, fiscal 2026, Oct 9, 2026)

Micron's income tax provision was $6,583 million in the quarter on pre-tax income of $44,238 million. For the full year its effective tax rate was 14.8%, up from 11.6% in fiscal 2025, which Micron attributes mainly to the 15% Pillar Two minimum tax that Singapore implemented effective for Micron in fiscal 2026. (Micron Q4 FY26 release, Sep 30, 2026; Micron Form 10-K, fiscal 2026, Oct 9, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Micron publishes a numeric outlook for the next quarter in each release. For Q1 fiscal 2027 it guided revenue of $61.5 billion ± $1.5 billion, GAAP gross margin of approximately 85.95% (86.25% non-GAAP), GAAP operating expenses of approximately $2.31 billion and GAAP diluted EPS of $37.84 ± $1.00 ($38.15 ± $1.00 non-GAAP), on approximately 1.15 billion diluted shares. The guidance leaves out acquisitions, divestitures, restructuring and other significant transactions. (Micron Q4 FY26 release, Sep 30, 2026)

In its 10-K Micron says it expects the strategic customer agreements with price bands to yield gross margins meaningfully above its peak quarterly margins in any past cycle, even at floor pricing levels. (Micron Form 10-K, fiscal 2026, Oct 9, 2026)

A consensus figure is the average of the models published by the analysts who cover Micron Technology, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Micron Technology's own release and filings put weight on for Q4 fiscal 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MU is on is MU a buy or a sell?, what analysts expect next is on the MU forecast, and what the company does is on the Micron Technology (MU) stock page.

Every number on this page can be traced to a document Micron Technology published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.