Micron Technology Inc. Reports Strong Q1 Growth

By Chris Stiles • Thursday, December 18 04:15 • Permanent Link

Micron Technology, Inc. has reported a strong performance in its first quarter of fiscal 2026, with significant growth in various financial metrics compared to the previous quarter and the same period last year. Here are the key figures:

Revenue for the first quarter of fiscal 2026 was $13.64 billion, compared to $11.32 billion for the prior quarter and $8.71 billion for the same period last year.
GAAP net income for the quarter was $5.24 billion, or $4.60 per diluted share, while non-GAAP net income was $5.48 billion, or $4.78 per diluted share.
Operating cash flow for the quarter amounted to $8.41 billion, a notable increase from $5.73 billion for the prior quarter and $3.24 billion for the same period last year.
Micron's gross margin for the first quarter of fiscal 2026 was $7.65 billion, representing 56.0% of revenue, compared to $5.05 billion (44.7% of revenue) for the prior quarter and $3.35 billion (38.4% of revenue) for the same period last year.
The company's quarterly dividend of $0.115 per share was declared, payable in cash on January 14, 2026.

Furthermore, Micron provided a business outlook for the second quarter of 2026, with an expected revenue of $18.70 billion, ± $400 million, and a gross margin of 67.0% ± 1.0%. The company also anticipates diluted earnings per share of $8.19 ± $0.20 on a GAAP basis and $8.42 ± $0.20 on a non-GAAP basis for the second quarter.

In terms of business unit financial results, Micron's cloud memory business unit reported a revenue of $5.28 billion, with a gross margin of 66% and an operating margin of 55%. The core data center business unit achieved a revenue of $2.38 billion, with a gross margin of 51% and an operating margin of 37%. The mobile and client business unit generated a revenue of $4.26 billion, with a gross margin of 54% and an operating margin of 47%. Lastly, the automotive and embedded business unit recorded a revenue of $1.72 billion, with a gross margin of 45% and an operating margin of 36%.

Micron's positive performance in the first quarter of fiscal 2026 reflects the company's strong operational execution and its position as an essential AI enabler in the industry. The market has reacted to these announcements by moving the company's shares -4.3% to a price of $222.50. If you want to know more, read the company's complete 8-K report here.

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