Micron closed its fiscal year with record results, reporting $133.19 billion in revenue for fiscal 2026, up from $37.38 billion a year earlier. The fourth quarter alone brought in $54.23 billion, compared with $41.46 billion in the prior quarter and $11.32 billion in the same quarter last year. The company also declared a quarterly dividend of $0.15 per share on September 30, payable October 29 to shareholders of record on October 14.
Profitability scaled with the sales surge. Fourth-quarter GAAP net income reached $37.70 billion, or $32.87 per diluted share, while non-GAAP net income was $38.40 billion, or $33.42 per diluted share. For the full year, GAAP net income was $84.97 billion, or $74.33 per diluted share, and non-GAAP net income was $86.76 billion, or $75.52 per diluted share. Operating cash flow for the quarter was $43.97 billion and $89.68 billion for the year.
The quarter's gross margin on a GAAP basis was 86.8%, with operating income of $43.751 billion and an operating margin of 80.7%. Micron spent $10.77 billion in net capital expenditures during the quarter, bringing the full-year figure to $27.37 billion. Adjusted free cash flow came to $33.20 billion for the quarter and $62.31 billion for the year, and the company ended fiscal 2026, which closed September 3, 2026, with $73.48 billion in cash, marketable investments and restricted cash.
All four business units grew from the prior quarter. The Core Data Center unit posted $18.002 billion in quarterly revenue with a 90% gross margin, while Cloud Memory brought in $16.283 billion at an 83% gross margin. Mobile and Client generated $13.114 billion, and Automotive and Embedded added $6.824 billion. Server LPDDR SOCAMM revenue more than doubled from the previous quarter.
On the product side, Micron says it is sampling 512GB DDR5 RDIMM modules and has completed customer qualifications for 1-gamma server RDIMMs running at 8,800 MT/s. The company is also shipping 6-channel 1-gamma LPDDR5X for flagship mobile devices and sampling 1-gamma LPDDR6 to physical AI markets. Its 6600 ION SSD saw a strong volume ramp in the quarter, and the 4600 SSD picked up qualifications with leading PC OEMs.
For the current quarter, Micron guided revenue to $61.5 billion, plus or minus $1.5 billion. GAAP diluted earnings per share are expected at $37.84, plus or minus $1.00, with non-GAAP diluted EPS at $38.15, plus or minus $1.00. The company projects GAAP gross margin of about 85.95% and non-GAAP gross margin of about 86.25%.
CEO Sanjay Mehrotra said in the announcement that "Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027". The results arrive after Micron said its Crucial consumer brand would shut down, with products shipping through February 2026. Crucial had been sold since 1996, and Micron said at the time that existing products would keep warranty coverage and support.
Micron set the results call for 2:30 p.m. Mountain Time on September 30, 2026, and said a webcast replay would stay online for a year afterward. Micron did not disclose in the release how much of its planned fiscal 2027 spending will go toward the advanced memory types it is now sampling.
