Micron Technology (MU.O) FY2026 Q4 earnings: revenue surges 379%, fully beats expectations
Everyone around the world was watching—then the official website crashed
Micron Technology reported its results for the fourth quarter of fiscal year 2026 (as of August 8) after the market closed on September 30, turning in an extremely impressive performance.
In the quarter, revenue reached $54.229 billion, up about 379% year over year from $11.315 billion in the same period last year. It also significantly exceeded the market consensus of $50.584 billion by roughly 7.2%. Adjusted earnings per share came in at $33.42, also well above analysts’ expectations of $31.61, and above the company’s prior guidance ceiling of $31.00 ± $1.
This is already another stretch of Micron’s “explosive growth” trajectory across multiple consecutive quarters. In the previous quarter (Q3), revenue was $41.456 billion, up 346% year over year, with a gross margin as high as 84.9%. Not only did the growth rate fail to slow down in this quarter—it accelerated further.
The driving factor remains the storage-chip demand surge fueled by AI infrastructure buildout—high-bandwidth memory (HBM) continues to be in short supply, and HBM4 has entered a large-volume shipment phase to its lead customers. Company management has also previously said that for key product lines including DRAM, the amount of supply customers can actually obtain is often only 50% to two-thirds of what they demand, highlighting how tight industry supply is.
Judging by the stock performance, Micron closed at about $1,000 on the trading day prior to the earnings release. Over the past year, its cumulative gain has exceeded 700%, and in the past month it’s risen about 18%, clearly outperforming both the broader market and the semiconductor sector as a whole. This suggests that, even before the earnings were released, the market already had very high expectations for this “explosive” set of results.#股票财报季
Everyone around the world was watching—then the official website crashed
Micron Technology reported its results for the fourth quarter of fiscal year 2026 (as of August 8) after the market closed on September 30, turning in an extremely impressive performance.
In the quarter, revenue reached $54.229 billion, up about 379% year over year from $11.315 billion in the same period last year. It also significantly exceeded the market consensus of $50.584 billion by roughly 7.2%. Adjusted earnings per share came in at $33.42, also well above analysts’ expectations of $31.61, and above the company’s prior guidance ceiling of $31.00 ± $1.
This is already another stretch of Micron’s “explosive growth” trajectory across multiple consecutive quarters. In the previous quarter (Q3), revenue was $41.456 billion, up 346% year over year, with a gross margin as high as 84.9%. Not only did the growth rate fail to slow down in this quarter—it accelerated further.
The driving factor remains the storage-chip demand surge fueled by AI infrastructure buildout—high-bandwidth memory (HBM) continues to be in short supply, and HBM4 has entered a large-volume shipment phase to its lead customers. Company management has also previously said that for key product lines including DRAM, the amount of supply customers can actually obtain is often only 50% to two-thirds of what they demand, highlighting how tight industry supply is.
Judging by the stock performance, Micron closed at about $1,000 on the trading day prior to the earnings release. Over the past year, its cumulative gain has exceeded 700%, and in the past month it’s risen about 18%, clearly outperforming both the broader market and the semiconductor sector as a whole. This suggests that, even before the earnings were released, the market already had very high expectations for this “explosive” set of results.#股票财报季
