Micron Technology posted record revenue in its fiscal fourth quarter, as demand for memory used in artificial intelligence data centers pushed sales above analysts’ estimates.
In a statement Wednesday, the Idaho-based company said revenue for the fiscal fourth quarter ended Sept. 3 rose to $54.23 billion, from $41.46 billion in the previous quarter and $11.32 billion a year earlier. Adjusted earnings per share came in at $33.42, beating the $31.61 estimate, while adjusted net income rose to $38.40 billion.
The company’s data center businesses accounted for much of the increase. Revenue from its Core Data Center unit rose to $18 billion in the fourth quarter, from $11.52 billion three months earlier, while Cloud Memory revenue climbed to $16.28 billion from $13.77 billion.
Mobile and client revenue increased to $13.11 billion, while automotive and embedded revenue reached $6.82 billion.
At the same time, Micron's adjusted gross margin widened to 87% from 84.9% in the previous quarter. Operating cash flow rose to $43.97 billion from $25.39 billion.
"Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027," CEO Sanjay Mehrotra said. "AI is becoming Super Intelligence, and memory enhances this intelligence and the competitiveness of our customers' platforms."
For the first quarter of fiscal 2027, Micron expects revenue of $61.5 billion, plus or minus $1.5 billion, above the $57.02 billion analyst consensus. Adjusted earnings per share are expected at $38.15, plus or minus $1, while adjusted gross margin is forecast at about 86.25%.